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Electro Optic Systems Holdings Limited (“EOS” or the “Company”) (ASX: EOS) today announces that it has entered into an agreement to acquire the MARSS group business (“MARSS”). MARSS is a Europe-based provider of command and control (“C2”) systems, which are critical for effectively countering drones.

MARSS’ proprietary C2 technology, NiDAR, provides advanced AI-enabled decision making and sensor-effector orchestration to rapidly counter asymmetric drone threats.

By combining its best-in-class effector and sensor capabilities with MARSS’ C2 technology, EOS is transforming from a component supplier to an integrated counter-drone systems provider, with strong software and AI capabilities.

Highlights

• Established in 2006, MARSS is a defence and security technology provider focused on developing and marketing sensor-fusion technology and AI-enabled C2 systems primarily for counter-drone use
• The acquisition includes MARSS’ NiDAR C2 technology, sensor-fusion and AI software platform and hardware offering, along with associated customer contracts, intellectual property and personnel
• Creates an integrated, end-to-end solution for countering drones i.e. Detect → Identify → Decide → Defeat – allowing EOS to act as a true counter-drone system provider and to compete for larger, higher-value programs as a Prime Contractor. This includes the delivery and operation of turn-key solutions for the protection of critical infrastructure in the military, homeland security and civil domain, such as airports or power plants
• Expands EOS’ geographic footprint and broadens its end market presence, with scope to leverage MARSS’ defence, homeland security and civil relationships
• Significantly strengthens EOS’ in-house AI/software development capability
• EOS plans to embed the AI-enabled NiDAR technology into its existing remote weapon system product range. It is envisaged that this will create the ability for the systems to form a mesh-network, providing the client’s vehicle fleet hemispherical coverage against drone attacks – a new feature in today’s market
• Transaction structured as an asset acquisition, with consideration consisting of an upfront cash payment and an earnout, being additional contingent consideration tied to new MARSS sales:
  • Upfront cash payment of US$36m (~A$54m); plus
  • Potential earnout amount of up to €20m for each €100m (or part thereof) of certain new MARSS third party contract orders (up to €500m) secured prior to the end of the earnout period. The earnout payment is capped at €100m (~A$174m), subject to adjustments and is payable in a combination of cash (capped at €20m) and EOS shares. More details are below (in full ASX announcement).
• Acquisition cash consideration, primarily intended to be funded from existing cash reserves (~$107m at 31 Dec 2025), see further details below (in full ASX announcement).
• Acquisition anticipated to be broadly neutral for earnings and operating cashflow in 2026.
• Completion expected in 2026, subject to customer, regulator and other approvals

Read the full ASX announcement here

• Over 18 million workers across the UK to benefit from stronger protections at work, with most insecure workers set to gain the most.   

• New day one rights from April confirmed for parental leave, whilst bereaved partners set to gain further rights to paternity leave. 

• Changes create more secure jobs and raise living standards, ensuring economic growth is felt by working people in every part of the UK.   

Millions of workers who were previously denied time off for the birth of their child will become eligible for new day one rights to parental leave from April, through measures being laid in Parliament today (Monday 12 January). 

The changes, which stem from the recently passed Employment Rights Act, will see parents no longer be forced to make the heart-wrenching choice between being there for the first weeks of their child’s life or going back to work to avoid losing their job.  

An additional 32,000 more dads per year will be able to access Paternity Leave immediately, as a mother would with maternity leave.  

This comes as the Government continues its Parental Leave and Pay Review, which will assess the whole system – from maternity and paternity leave to shared parental leave – to see how it can work better for parents and employers.  

Around 390,000 people are estimated to be out of work due to caring responsibilities but want a job, including parents. The reforms to parental leave include the right to take Unpaid Parental Leave from the first day in a new job, giving a further 1.5 million parents more flexibility to share caring responsibilities. If even 1% of those out of work were able to take up a part-time job as a result of this move, it could boost economic output by around £150m a year. 

Prime Minister Keir Starmer said:   

For too long, working people were left without the basic rights and security they deserve. That ends now.

The changes we’re bringing in will mean every new parent can properly take time off when they have a child, and no one is forced to work while ill just to make ends meet. This is about giving working families the support they need to balance work, health and the cost of living.

We’re delivering a modern deal for workers. Stronger sick pay, parental leave from day one, and protections that put dignity back at the heart of work. Because when we respect and reward those who keep Britain running, we build a stronger economy for everyone.

Business Secretary Peter Kyle said:   

No one should have to worry about whether they can take time off when their baby arrives, or lose pay simply because they’ve fallen ill.   

Our improvements to sick pay and parental leave are about giving workers and their families the security they deserve. They will ensure our drive for growth reaches everyone through providing secure, fair paying jobs and giving support to people when they need it most.

Following campaigning from individuals such as Aaron Horsey, a new Bereaved Partner’s Paternity Leave will also be introduced from April, providing up to 52 weeks of leave for fathers and partners who lose their partner before their child’s first birthday. This fixes the previously unfair system where bereaved partners had to rely on the compassion of an employer in order to be granted time off to grieve and care for their child. 

Aaron Horsey, campaigner for Bereaved Partner’s Paternity Leave, said: 

Bereaved Partner’s Paternity Leave ensures that new parents and their employers have a clear route for support at one of the most difficult moments imaginable. It gives them the time and space they need to grieve, care, and begin to rebuild their lives with dignity. 

By embedding this protection in law, it shows how listening to lived experience can lead to practical, compassionate change that will support families for generations to come.

Analysis published last week showed that over 18 million workers are set to benefit from the Government’s wider Plan to Make Work Pay, with it particularly supporting the lowest-paid workers, those in insecure jobs, and people facing unfair treatment at work.   

The benefits in the Employment Rights Act significantly outweigh the costs. By restricting exploitative practices like unscrupulous fire and rehire, and giving more workers access to flexible working and guaranteed hours contracts, this country will see improved worker wellbeing, boosted productivity, and a more level playing field for employers. This is all worth billions of pounds per year and is expected to deliver a small yet positive impact on economic growth. 

The government is also bringing in changes to ensure up to 1.3 million additional workers in lower-paid or part-time roles are able to access Statutory Sick Pay (SSP) and make sure everyone can access it from the first day of illness.   

This is a substantial shift from the former three-day wait for SSP to kick in, which left people working whilst ill risking increased long-term sickness, one of key factors draining British businesses and the wider economy. 

By improving the quality of work and ensuring that everyone has job security when it matters most, the Government is delivering on its mission to drive growth that is felt by everyone. 

TUC General Secretary Paul Nowak said:

The Employment Rights Act will deliver vital common-sense reforms for millions of people across the country – including sick pay for all workers and better leave for parents.  

Britain will now be brought into line with other countries where workers already have better protections. And crucially, the legislation will give working people the higher living standards and secure incomes that are needed to build a decent life.  

Good employers will also welcome these changes – the Act protects them from competitors whose business models are built on low-paid, insecure employment.” 

Simon Kelleher, Head of Policy and Influencing at Working Families, said:

Day-one rights for paternity and unpaid parental leave are a positive step forward. Removing the 26-week qualifying period means parents can change jobs without losing essential leave entitlements, something we know has held many people back and can trap families in roles that no longer work for them. 

To build on this progress, we are looking forward to continuing our engagement with the Government’s ongoing Parental Leave Review to ensure all parents can access a meaningful period of leave.

Niall Mackenzie, Acas Chief Executive, said:

It can be hugely stressful if a worker is not paid during an illness or dealing with a major life upheaval like a birth or bereavement.  

These new measures give greater protections for working people that get ill, and create capacity to handle unpredictable moments when they need it the most. Reducing stress and anxiety for staff can also help support good relationships with employers and support business growth.

Notes to editors:   

• The following Statutory Instrument will be laid in Parliament on Monday 12 January, in order for the parental leave measures in the Employment Rights Act 2025 to take effect:  

• The Employment Rights Act 2025 (Parental and Paternity Leave) (Removal of Qualifying Periods etc.) (Consequential Amendments) Regulations 2026 

• The following Statutory Instruments will be laid in order to allow Bereaved Partner’s Paternity Leave to take effect: 

• The Bereaved Partner’s Paternity Leave Regulations 2026  

• The Employment Rights Act 1996 (Application of Section 80B to Parental Order Cases) (Amendment) Regulations 2026  

• The Employment Rights Act 1996 (Application of Section 80B to Adoptions from Overseas) (Amendment) Regulations 2026 

• Statutory Instruments for the Statutory Sick Pay changes in the Employment Rights Act 2025 will follow in the coming months, ahead of implementation in April. 

• Case studies are available, including from the TUC and Working Families. Press office contacts are available below: 

• media@tuc.org.uk 

• sarah.murray@WorkingFamilies.org.uk  

• The Dad Shift can also be contacted for case studies of fathers who have faced barriers to paternity leave, at press@dadshift.org.uk and 07969151841 / 07917824009.