VisionWave Holdings Inc. (NASDAQ: VWAV) signed a non-binding term sheet to acquire up to 51% of Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) for $17.5 million in VisionWave equity, according to a company statement.

The acquisition will occur in two stages: 45% at initial closing and an additional 6% contingent on commencement of a defense or security sector pilot project. VisionWave will receive two board seats at the first stage and one additional seat at the second stage. Both companies will remain independent, publicly traded entities.

The transaction follows VisionWave's April 10 acquisition of the xClibre AI video intelligence IP portfolio for 7 million shares of common stock and a $6 million promissory note. The xClibre IP was independently valued at approximately $60 million by BDO Consulting Group.

VisionWave plans to integrate three technology layers: its RF-based detection systems, Foresight's stereo vision and thermal perception capabilities, and xClibre's behavioral analytics software. The company stated this combination aims to reduce false-positive response rates and accelerate detection-to-decision timelines for defense and security applications.

"We are building the intelligence layer that sits above sensors — one that can take inputs from RF, from cameras, from thermal imaging, and from AI video analytics, and translate them into decisions and actions," said Douglas Davis, Executive Chairman and CEO of VisionWave.

The Foresight transaction requires completion of due diligence, definitive agreements, and regulatory approvals. VisionWave expects to execute the definitive agreement within 30 days and complete the first stage closing within 45 days thereafter.

VisionWave is conducting a proof-of-concept for xClibre technology with an industry partner, targeting completion in the second half of 2026.