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Israeli firm Xtend recently won a US Department of Defense contract and is bidding for another before a merger with JFB Construction.
Eric Trump is investing in a $1.5bn merger between Israeli drone maker Xtend and Florida-based JFB Construction Holdings, a small construction company, in a deal aimed at taking Xtend public this year, JFB said in a news release on Tuesday.
Aureus Greenway Holdings Inc., a golf course holding company backed by the two eldest Trump sons, is merging with drone producer Powerus Corporation, the companies announced Monday in a release that names Eric and Donald Jr. as “notable investors.”
“We’re huge fans of our backers,” said Brett Velicovich, a co-founder of Powerus. “Eric and Don Jr. have been just fantastic supporters behind the scenes. They see the need for us to build drone technology at scale.”
Their investment will enable Powerus to create a manufacturing strategy and acquire other drone technology companies, Velicovich said.
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