• MARSS secures new orders totaling €102m (~A$165m) from an existing Middle East customer
• MARSS' order book now stands at €135m (~A$217m)
• EOS and MARSS vendors agree to amend transaction terms, including an increase in the maximum earnout cap to €140m

Electro Optic Systems Holdings Limited (EOS) has announced revised agreement terms for its acquisition of the assets of the MARSS group business (MARSS). Key updates include:- MARSS has secured new orders in May 2026 totaling €102m (~A$165m) from an existing customer in the Middle East. MARSS' order book now stands at €135m (~A$217m).- In light of the additional contracted orders, a strengthening outlook for MARSS, and increased industry interest, EOS and the vendors have agreed to amend the transaction terms. This includes increasing the maximum earnout cap from €100m to €140m.- EOS has drawn A$70m from its term loan facility, with A$50m used to fund the upfront cash consideration of US$36m being paid for the MARSS acquisition.- Completion of the MARSS acquisition is expected in the coming days, subject to receipt of funds and other customary steps.The announcement also provides an update on MARSS' business, noting that its NiDAR Command and Control systems have successfully protected critical infrastructure in the Middle East, defeating multiple drone and missile attacks. This has led to accelerated customer interest in MARSS' counter-drone capabilities.

Assuming the MARSS acquisition completes, EOS expects to receive the full economic benefit of all current MARSS contracts. MARSS' current order book of A$217m includes a mix of one-off installation revenue and ongoing support revenue over 3-5 year contracts.