Nuburu (BURU) stock rallied on Friday morning after the company announced a new binding letter of agreement to acquire a 70% stake in Italy-based Tekne, reviving a deal framework first outlined in 2025.
The revised deal replaces the 2025 structure, which included issuing about $42 million in BURU shares and a €10.5 million ($12.1 million) capital injection into Tekne. Under the new framework, no shares will be issued; instead, Nuburu will direct capital toward Tekne’s growth and the expansion of its Defense & Security platform. The transaction would allow Nuburu to integrate Tekne’s capabilities in military mobility and electronic warfare into its platform.
Tekne is targeting about €50 million in full-year 2026 revenue, doubling to over €100 million in 2027. According to Nuburu’s last financial report for the year ended Dec. 31, 2024, it generated a revenue of $152,127. The company is yet to report its full-year 2025 results.
€1 = $1.16
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