NETANYA, Israel, Sept. 16, 2026 (GLOBE NEWSWIRE) -- Tessera Defense and Homeland Security Inc. (NYSE American: HLSQ) (“Tessera” or the “Company”) today announced that it has amended its existing investment agreement for the purchase of an equity stake in M.E.A. Testing Systems Ltd. (“MEA”, “Motomea”), an Israeli company that develops drone-related testing technology, from a 10% to 15% stake. As part of the original agreement, Tessera has secured an exclusive option to acquire the remaining interest in MEA held by its majority shareholder, Motomova Inc. (OTC: MTMV).
Motomea brings over a quarter-century of expertise to the field of electric motor and rotating-machine testing. The company provides testing solutions, including electric propulsion systems for drones, aircraft, robotics, and ground vehicles, to clients across the aerospace, automotive, energy, industrial, and transportation industries. Additionally, Motomea created and patented the industry's first load-free inertial dynamometer systems, enabling motor performance evaluations during acceleration and deceleration without requiring traditional external mechanical loads.
Under the transaction as amended, Tessera will acquire the 15% interest for $50,000 in cash and 130,000 shares of Tessera common stock, and agreed to issue an additional 65,000 shares, subject to NYSE American approval. Tessera also agreed to an advance to MEA with a convertible loan facility of up to $475,000 to fund working capital and MEA’s drone-related activities. The loan may, at Tessera’s option, be converted into additional equity in MEA, subject to compliance with and approval of NYSE American. Additionally, as part of the closing, Tessera is to receive an exclusive, perpetual, worldwide license for MEA’s technology and know-how.
The option, entitles Tessera to acquire Motomova’s remaining holdings in MEA at a price based on MEA’s audited results for fiscal year 2027.
"Drone threats are now a reality at every site we protect, and effective defense begins with rigorous testing," said Michael Oster, CEO of Tessera. "MEA adds a critical testing capability to Tessera's AI-driven security platform, which connects predictive intelligence, sensing, analysis, decisioning and response. Over the long term, what we learn from MEA's testing will strengthen many of those layers. The transaction structure provides a path to full ownership as MEA scales."
Following the transaction, MEA will remain majority owned by Motomova, and its management will remain unchanged.
About Tessera Defense and Homeland Security Inc.
Tessera Defense and Homeland Security Inc. (NYSE American: HLSQ) is a physical security technology company providing integrated, bespoke security solutions that connect detection, intelligence and response across complex security environments. The Tessera platform integrates cameras, sensors, detection technologies, AI and other security infrastructure to identify threats, understand events and coordinate response in real time. Tessera provides the technology, hardware and implementation expertise needed to tailor security solutions to the specific requirements of each site, helping customers deploy and optimize integrated security systems across critical infrastructure and homeland security applications.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the anticipated benefits of the investment in MEA, the integration of MEA’s technology with the Company’s platform, the Company’s intention or ability to exercise its option to acquire the remaining interest in MEA, the conversion of the loan and the issuance of additional shares, and the Company’s strategy and target markets. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties, including risks related to the Company’s ability to execute its strategy, obtain NYSE American approval for the issuance of additional shares, complete due diligence on MEA, and integrate and commercialize acquired technologies, and those risks described in the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2025, as supplemented by the Form 10-K/A filed April 30, 2026, and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026. Actual results may differ materially from those expressed or implied. The Company undertakes no obligation to update any forward-looking statement, except as required by law.
Media Contact:
Yair Ohayon, IR & Communication Manager [email protected]