Israeli defense technology company XTEND and JFB Construction Holdings (Nasdaq: JFB) have announced a $1.5 billion all-stock merger that will create XTEND AI Robotics, a publicly traded company focused on AI-powered autonomous systems for defense, security and public safety applications.
Following the completion of the transaction, expected in mid-2026 pending regulatory approval and customary closing conditions, the combined company is expected to trade on the Nasdaq under the ticker symbol “XTND.”
XTEND’s software platform, the XTEND Operating System (XOS), enables operators to manage multiple air, ground and maritime robotic systems. Company leaders say the transaction is intended to accelerate deployment of autonomous systems, expand U.S.-based manufacturing and establish a publicly traded defense robotics company positioned to serve the United States, NATO allies and other partner nations.
According to the companies, existing XTEND shareholders are expected to own approximately 70% of the combined company, while existing JFB shareholders are expected to own approximately 30% on a fully diluted basis, excluding certain future equity incentive plans.
The companies said the transaction is expected to:
• Expand U.S.-based manufacturing capacity
• Accelerate deployment of XTEND’s autonomous systems
• Create a Nasdaq-listed defense robotics company focused on AI-driven autonomous systems
• Support sales to the U.S., NATO allies and other allied nations
The combined company, XTEND AI Robotics, will be led by XTEND’s CEO, Aviv Shapira, and aims to scale operations through expanded manufacturing, U.S. operating infrastructure and access to public markets.
Aviv Shapira is the CEO and co-founder of XTEND, a global leader in AI-powered, human-guided autonomous systems serving defense, homeland security and public safety organizations worldwide.
Under his leadership, XTEND has evolved into an operationally deployed robotics platform company, with thousands of systems fielded globally and active programs across multiple regions. He has led the development of XTEND’s software-first architecture built around XOS, the company’s proprietary operating system, which enables scalable, mission-ready autonomous systems in complex environments.
Shapira is an aerospace engineer with a background in rocket and space systems engineering. Prior to founding XTEND, he built and sold a company to Intel, which became the foundation for Intel Sports, and he has received two Emmy Awards for technological innovation.
XTEND is his fourth startup, reflecting his continued focus on building and scaling breakthrough technology companies.
He brings a multidisciplinary background spanning deep technology, systems architecture and global business development, and is focused on advancing the intersection of AI and robotics to build systems that operate in the real world and help make it safer.
