Ukrainian defense technology company TENCORE has acquired stakes in two domestic robotic systems developers, TOR and NODRICS. The acquisitions were announced by TENCORE co-founder and CEO Maksym Vasylchenko in an interview with Defender Media.
The companies and their technologies will join the TENCORE ecosystem, which was officially launched last week. The company's growth strategy focuses on business expansion through mergers and acquisitions (M&A), as well as minority and other equity investments in defense technology manufacturers.
The financial terms of the transactions have not been disclosed. According to Vasylchenko, TENCORE financed its initial acquisitions using its own funds. The company is already working on additional deals with other manufacturers, which will require external investment financing.
TENCORE does not necessarily intend to acquire 100% ownership of companies joining its ecosystem. As Vasylchenko explained, in certain cases TENCORE will have a right of first refusal to acquire additional stakes if existing shareholders decide to sell their holdings.
TOR is an unmanned ground vehicle designed for logistics and cargo transportation. The system is a heavy-duty wheeled robotic platform featuring enhanced off-road capabilities and armored wheels. It is designed to operate in challenging environments where cargo needs to be transported across difficult terrain.
NODRICS develops the MAT1LDA amphibious platform, designed to cross water obstacles and navigate challenging terrain. The vehicle is equipped with a gasoline engine and side pontoons. Its payload capacity reaches 500 kg on land and 400 kg on water, with a stated operating range of up to 160 km and 50 km, respectively. The platform's open design allows for the installation of various types of equipment, including cargo containers and stretchers for casualty evacuation.
TENCORE's expansion through equity acquisitions in specialized manufacturers reflects a strategy of consolidation within Ukraine's defense technology market. Bringing developers together under a single ecosystem could support product development and expand manufacturing capabilities. According to Maksym Vasylchenko, the company is already preparing additional transactions with other manufacturers.
