- 01BSA to acquire 100% of drone-tech firm Eonetics.
- 02Consideration: 50m shares, 24.5m options and 30m performance shares.
- 03EON targets telecoms, remote infrastructure.
BSA Limited (ASX: BSA) has signed a binding share purchase agreement to acquire Eonetics, advancing a proposed expansion from infrastructure services into proprietary tethered-drone technology.
The transaction, which covers 100% of Eonetics’ issued capital, would combine BSA’s national field workforce with airborne communications, monitoring, and remote infrastructure systems.
Consideration comprises 50 million BSA shares, 24.5 million options, and 30 million performance shares, with no capital raising proposed.
Of the consideration shares, 20 million would be subject to a 12-month voluntary escrow and another 20 million to an 18-month voluntary escrow.
BSA, which reported approximately $17m cash at the end of June 2026, estimates its undiluted market capitalisation would increase from approximately $20 million before the transaction to $33m on completion, using its 31 August share price of $0.26.
Aerial Technology Platform
Eonetics has developed its EON Tether platform to provide continuously powered airborne infrastructure through a ground-connected tether carrying power and high-speed fibre connectivity.
The integrated aircraft, ground power system, payload equipment, and Mission Command Centre software are designed for applications including portable mobile coverage, communications relays, surveillance, and temporary lighting.
According to the business, the platform supports payloads of up to 15 kilograms, operating altitudes of up to 120 metres and data transmission speeds of one gigabit per second.
The Melbourne-developed system is intended to operate for multiple days, with trained technicians handling local deployment while remote monitoring and diagnostics can be undertaken through its software.
Existing Customer Applications
Eonetics’ technology has already been deployed for telecommunications restoration and other network applications, including work supporting Verizon during Hurricane Ian in Florida in 2022.
Its tethered aircraft carried mobile-network equipment to supplement coverage and situational awareness during the disaster response, demonstrating a potential use for temporary network restoration.
In Palau, Eonetics worked with Palau National Communications Corporation and Nokia on an airborne fifth-generation mobile network installation supporting the country’s first such phone call.
McKay Brothers has also used the technology to position microwave communications equipment where elevated relay capability is needed during maintenance, outages or network testing.
National Workforce Scale
BSA operates across telecommunications, utilities and EV charging, covering infrastructure planning, construction, installation, and maintenance through a nationwide delivery network.
Its operating platform includes more than 160 skilled field contractors and around 40 employees, supported by round-the-clock field operations and an established customer base.
BSA sees an opportunity to use that technician network to deploy and service Eonetics equipment nationally without establishing a separate field workforce, while pursuing cross-selling with existing telecommunications and utilities customers.
The proposed combination could also extend into emergency response and public-sector work, dependent on completing the acquisition and securing commercial demand.
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