(RTTNews) – BiomX Inc. (PHGE), a holding company for defense, security, and critical infrastructure technologies, Wednesday announced that its subsidiary BiomX Israel Defense and Security Ltd, has signed a non-binding letter of Intent or LoI to acquire a 60 percent controlling interest in Tsoock Defense Technologies Ltd, an Israeli security infrastructure and systems integration company.
Tsoock provides installation, commissioning and maintenance of integrated security, safety and communications systems, including CCTV and video surveillance, access control, intrusion detection, fire detection, building-control systems, electrical and communications cabling, command-and-control rooms and solar infrastructure.
If completed, the proposed acquisition is expected to help strengthen the BiomX’s ability to bring detection, identification, command-and-control and response technologies from portfolio-level strategy into real-world operational environments.
Under the LoI, BiomX Israel Defense and Security Ltd. would acquire 60 percent of Tsoock for a total consideration of $10.4 million, with the consideration comprising of an initial payment of $300,000, with the remaining $10.1 million expected to be payable in four quarterly installments over 12 months.
The LoI also regards an option for BiomX to acquire the remaining 40 percent of Tsoock for $9.2 million during a 36 months period, upon closing of the proposed transaction.
As per Tsoock’s financial statements, it reported a net profit of approximately NIS 625 thousand in 2025, compared with a net loss of approximately NIS 1.8 million in 2024.
In pre-market activity, PHGE shares were trading at $0.259, down 12.38% on the New York Stock Exchange.
