Virtuix Signs LOI to Acquire Defense Contractor STS International, Reporting $40 Million in Unaudited Cash-Basis Revenue Through October 2026
Globe Newswire•12/11/2026•09:17 ET
0
Key Highlights
- ➤STS International reported approximately $40 million unaudited cash-basis revenue through October 2026
- ➤STS reported approximately $0.6 million year-to-date positive EBITDA and net income
- ➤Virtuix agreed to acquire STS for $12 million base consideration, using cash and equity
- ➤Proposed Virtuix Defense launch expands military contracting, C5ISR, and simulation capabilities
- ➤Closing requires audit, financing, approvals, and definitive agreements; LOI remains non-binding
Expert Statements
Jan Goetgeluk, Founder and CEO of Virtuix
“This potential acquisition represents a major step forward in our defense strategy and the beginning of what we envision as a substantial new growth platform for Virtuix”
Jan Goetgeluk, Founder and CEO of Virtuix
“Rather than building every element of a defense contracting organization from the ground up, this transaction has the potential to combine our differentiated training technologies with decades of defense experience, established government contract vehicles, and security clearances, which we believe can create significant value for Virtuix’s shareholders.”
Jan Goetgeluk, Founder and CEO of Virtuix
“Our vision is to build Virtuix Defense into the next major defense training, technology, and services consortium”
Jan Goetgeluk, Founder and CEO of Virtuix
“We believe combining Virtuix’s innovative technology with established defense contractors can create a powerful platform for growth.”
Jan Goetgeluk, Founder and CEO of Virtuix
“This proposed acquisition would provide a strong foundation from which to pursue that vision.”
David Morgan, President of STS International
“We look forward to joining forces with the Virtuix team to pursue new opportunities and accelerate growth”
David Morgan, President of STS International
“By combining our established C5ISR capabilities and customer relationships with Virtuix’s product development and capital markets expertise, we see significant potential to continue to expand our defense business in the years ahead.”
STS Brings Extensive Defense and Federal Government Experience Across C5ISR, Engineering, Sustainment, and Training and Simulation
STS’s Reported Revenues and Positive EBITDA Could Accelerate Virtuix’s Pathway to Profitability
Get started
Create a free account to read the full story.