Daily Roundup

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DroneShield Lands Major US Contract

DroneShield has secured a significant $24.9 million contract with the US Joint Interagency Task Force 401, marking another win in the growing counter-drone market. The deal will see the company supply mobile and fixed site counter-drone solutions, with an initial payment of $19.3 million expected across 2026 and 2027. An additional $5.6 million in options are available over the five-year period. At least $10 million of the initial contract value is expected to flow through as committed revenue in FY2026, providing meaningful near-term visibility for the company.

Tasmea Acquires Maxim Group in A$254m Deal

In a transformative move, Tasmea has announced plans to acquire Maxim Group for up to A$254 million, significantly expanding its footprint in high-growth sectors. Maxim, a leading electrical specialist contractor in Victoria, has delivered impressive organic growth with a 70% compound annual growth rate from FY24 to FY26. The acquisition is expected to be immediately accretive to earnings per share by approximately 31% in FY26, with pro forma underlying EBIT reaching $175 million and NPAT of $107 million. Maxim's existing management and workforce will remain in place, and the deal is slated to close around July 1, 2026, pending regulatory approval. The move positions Tasmea as a leading specialist electrical platform with enhanced exposure to data centres, infrastructure, and renewable energy projects.

Heartland and TSB Bank to Merge

Heartland Group Holdings has announced a proposed merger with TSB Bank Limited to create a New Zealand challenger bank with regional focus. The combined entity, TSB Heartland Bank, will blend Heartland's specialist product expertise with TSB's cost-effective funding platform. Heartland will acquire all TSB shares for A$620 million, representing 76% of TSB's book value. The merger is expected to deliver material synergies of approximately $34 million per annum in ongoing profit before tax benefits, with normalized EPS accretion exceeding 20% in the first year post-completion. The deal is anticipated to close in December 2026, subject to community consultation, shareholder approval, and regulatory clearances.

Stakk Accelerates Growth with Major Healthcare Win

Stakk has announced a significant new client win that's sending its revenue run rate soaring. The company's US subsidiary, Stakk IQ, has secured an enterprise healthcare technology customer expected to contribute approximately A$3.85 million annually. This single deal has catapulted Stakk's annualised revenue run rate to A$26 million—a remarkable 2,067% increase from just A$1.2 million in December 2024. The two-year agreement involves implementing customized trust and decisioning workflows for user credential validation in healthcare services. The first quarterly payment is expected before June 30, 2026.

Trading Halts and Pauses

Vysarn Limited has requested a trading halt pending an announcement related to a potential material acquisition. The halt is expected to remain in place until June 3, 2026 or until the company makes its announcement, whichever comes first. Separately, Stakk has announced a temporary pause in trading of its securities, with further details to follow.