Talha Qureshi
1 min read
In This Article:
On May 22, Nuburu, Inc. (NYSEAMERICAN:BURU) announced its plan to acquire Tekne S.p.A. to advance its defense-related technologies.
The company noted the acquisition is anticipated to immediately enhance Nuburu, Inc.’s (NYSEAMERICAN:BURU) revenue streams to $50 million.
An engineer using a high power precision blue light engine laser for metal processing.
The company plans to integrate its proprietary blue laser technology with TEKNE’s advanced defense solutions, to deliver tailored products for the $500 billion worth of global defense industry.
The acquisition is still subject to regulatory and shareholder approval. If the deal goes through Nuburu, Inc. (NYSEAMERICAN:BURU) would be able to access Tekne’s $309 million order backlog to ensure growth in a critical industry.
Nuburu, Inc. (NYSEAMERICAN:BURU) specializes in manufacturing advanced industrial blue laser systems, which are used for Welding, 3D printing, and industrial cutting and shaping. The company serves a range of industries including the aerospace and defense sectors.
Tekne S.p.A. is an Italian company known for its advanced electronic warfare and cyber capabilities in military vehicles.
While we acknowledge the potential of BURU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BURU and that has 100x upside potential, check out our report about the cheapest AI stock.
READ NEXT: 11 Most Promising New Technology Stocks According to Analysts and 12 Best Growth Stocks to Buy and Hold for the Long Term.
Disclosure: None
