American Nuburu is once again focusing on Abruzzo’s Tekne, but the operation remains linked to the Golden Power.
Today Nuburu Inc., a US company active in the Defense and dual-use Security sector, announced the signing of the definitive and binding agreement for the acquisition of 70% of Tekne Spa, a company with operational headquarters in Ortona specializing in defense engineering and the design and outfitting of industrial, special, and military vehicles.
The operation, subject to authorization under Italian Golden Power regulations, is part of an industrial plan that foresees cumulative revenues of approximately 565 million euros between 2026 and 2030 and an employment growth of about 370 new units.
The matter also fits into the context of previous evaluations by the Italian government regarding the entry of foreign capital into the Abruzzo group.
Already in spring 2025, Nuburu, listed on the NYSE and led by Alessandro Zamboni, had attempted to acquire control of Tekne. However, the operation, subject to Golden Power, was blocked in August by the government. According to rumors, the stop was related to doubts about governance and the lack of guarantees on the future industrial prospects of the Ortona company, which has almost 200 employees, half of whom are engineers.
However, last November the two companies, together with Tekne’s shareholders, signed a new letter of intent, replacing previous agreements and establishing a renewed and strengthened strategic and industrial partnership.
FINANCIAL DETAILS OF THE AGREEMENT
The agreement provides for the acquisition of 70% of Tekne’s share capital through the conversion of shareholder loans already granted, subscription of a capital increase, and the purchase of additional shares from current shareholders.
In particular, Nuburu has already provided Tekne with 16.7 million euros in shareholder loans and about 5 million euros for destocking operations – according to a statement – Under the agreement, during the Golden Power procedure, Nuburu will provide additional financial contributions to support Tekne’s operational continuity and industrial growth path, including 1 million euros already released upon signing the agreement.
Furthermore, the agreement provides for a total capital increase of up to 29.7 million euros, inclusive of the conversion of shareholder loans already granted and new cash contributions in the capital increase amounting to 13 million euros. The purchase of additional shares from current Tekne shareholders for a value of 5.2 million euros is also planned, along with an earn-out component based on the company’s future revenues.
WHAT THE ABRUZZO-BASED TEKNE DOES
Tekne is an Italian company founded in the 1990s that designs and produces electronic and electrical systems, focusing from the start on special vehicles and agricultural machinery, as well as electronics solutions for defense. “From a family business for the design and production of electronic systems and electrical installations, it decided from its early years to focus on the special vehicles sector. Today, Tekne has locations in Abruzzo at Poggiofiorito (general electronics and wiring division); Ortona (engineering and vehicle production); Termoli (vehicle production); and Chieti (defense and security division),” wrote il Centro.
The Abruzzo company came to prominence at the end of 2022: former Ukrainian president Petro Poroshenko had announced that an Italian armored vehicle MLS Shield, produced precisely by Tekne, saved 11 Ukrainian soldiers after a hit from a mortar mine. The vehicle thus demonstrated a high level of protection.
THE LIQUIDITY CRISIS IN 2024
Two years ago, Tekne initiated a negotiated crisis composition procedure following “a deep liquidity crisis” and “management criticalities” – reports the 2024 financial statement – after a strong increase in revenues in the 2021-23 period not accompanied by adequate organizational strengthening and management control systems.
In 2024 revenues amounted to a total of 34 million, sharply down from 54 million in 2023. The order backlog is significant, around 500 million.
A company therefore of great strategic value, but recently in a liquidity crisis, with repercussions on workers, who were placed on redundancy funds for six months between 2024 and 2025.
NUBURU WILL ACQUIRE TEKNE THROUGH THE SUBSIDIARY NUBURU DEFENSE
After last year’s stop, this spring the American company reactivated the acquisition of 70% of Tekne.
According to the companies’ communication, the acquisition will be finalized through the subsidiary Nuburu Defense LLC. The operation represents a further development of the strategic collaboration initiated between the two companies in 2025 and formalized last March.
According to the released statement, the goal is to build an integrated European platform in the defense and security sectors, combining anti-drone systems, electronic warfare, tactical mobility, directed energy technologies, and software for operational resilience.
THE 2026-2030 INDUSTRIAL PLAN
Subsequently, in the industrial plan presented by the companies, Tekne foresees cumulative revenues of about 565 million euros by the end of 2030. The plan also includes estimated employment growth of about 370 new units during the period considered.
The companies indicated that the project aims to strengthen industrial and technological activities in the defense and security sector, with particular attention to the development of dual-use technologies.
DIALOGUES WITH THE ITALIAN GOVERNMENT
Finally, as already mentioned, this new agreement also remains linked to the Golden Power.
Today Nuburu states that it plans to submit the Golden Power notification to the Italian Government within the required terms: “the companies have already started a thorough and constructive dialogue with Italian institutions. According to reports, the discussion aims to align the industrial plan with national strategies in defense and technological development.
“The agreement represents a crucial step for Nuburu,” said Alessandro Zamboni, executive chairman and co-CEO of the company, “and charts the definitive path towards control of Tekne, with significant investments already made in Italy and new capital available.”
