{"id":1020474,"date":"2026-11-12T10:49:47","date_gmt":"2026-11-12T15:49:47","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/virtuix-signs-loi-to-acquire-defense-contractor-sts-international-reporting-40-million-in-unaudited-cash-basis-revenue-through-october-2026\/"},"modified":"2026-11-12T10:49:47","modified_gmt":"2026-11-12T15:49:47","slug":"virtuix-signs-loi-to-acquire-defense-contractor-sts-international-reporting-40-million-in-unaudited-cash-basis-revenue-through-october-2026","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/virtuix-signs-loi-to-acquire-defense-contractor-sts-international-reporting-40-million-in-unaudited-cash-basis-revenue-through-october-2026\/","title":{"rendered":"Virtuix Signs LOI to Acquire Defense Contractor STS International, Reporting $40 Million in Unaudited Cash-Basis Revenue Through October 2026"},"content":{"rendered":"
\n

\n STS Brings Extensive Defense and Federal Government Experience Across C5ISR, Engineering, Sustainment, and Training and Simulation<\/em>\n <\/p>\n

\n STS\u2019s Reported Revenues and Positive EBITDA Could Accelerate Virtuix\u2019s Pathway to Profitability<\/em>\n <\/p>\n

\n Proposed Acquisition Would Establish Virtuix Defense and Expand Military Contracting Capabilities Through Contract Vehicles, Security Infrastructure, and Customer Relationships<\/em>\n <\/p>\n

AUSTIN, Texas, Nov. 12, 2026 (GLOBE NEWSWIRE) — Virtuix Holdings Inc.<\/a> (NASDAQ: VTIX) (\u201cVirtuix\u201d or the \u201cCompany\u201d), a leading developer of full-body simulation systems, today announced that it has signed a non-binding letter of intent (\u201cLOI\u201d) to acquire all of the outstanding equity interests of STS International, Inc. (\u201cSTS International\u201d or \u201cSTS\u201d), an Arlington, Virginia-based defense technology and services company with approximately $40 million in unaudited cash-basis revenue for the 10 months ended October 31, 2026.<\/p>\n

STS International, headquartered near the Pentagon, has a long history of operating in the defense and federal government markets, with capabilities spanning C5ISR, engineering, sustainment, and training and simulation.<\/p>\n

Driven in part by its participation in the C5ISR Gateway to Sustainment contract vehicle, STS International achieved strong year-over-year revenue growth in 2026. STS reported to Virtuix approximately $40 million in unaudited cash-basis revenue for the 10 months ended October 31, 2026, compared with approximately $6.7 million for the full 2025 calendar year, with positive EBITDA and net income of approximately $0.6 million year-to-date. STS\u2019s financial information is unaudited, is presented on a cash basis rather than in accordance with U.S. GAAP, and has not been reviewed by Virtuix\u2019s independent auditors; audited financial statements of STS are a condition to closing, and audited results may differ materially.<\/p>\n

Under the terms currently contemplated by the LOI, Virtuix would acquire all of the outstanding equity interests of STS International on a debt-free, cash-free basis for base consideration of $12 million with a combination of cash and equity. The LOI also contemplates potential earnout payments, tied to the award of identified pending contracts and to post-closing revenue targets, as well as the issuance of additional shares, subject to change. The shares would be issued in a private placement and would be subject to lock-up and resale restrictions. The parties are targeting a closing during Virtuix\u2019s current fiscal year ending March 31, 2027, although there can be no assurance as to timing.<\/p>\n

\u201cThis potential acquisition represents a major step forward in our defense strategy and the beginning of what we envision as a substantial new growth platform for Virtuix,\u201d said Jan Goetgeluk, Founder and CEO of Virtuix. \u201cRather than building every element of a defense contracting organization from the ground up, this transaction has the potential to combine our differentiated training technologies with decades of defense experience, established government contract vehicles, and security clearances, which we believe can create significant value for Virtuix\u2019s shareholders.\u201d<\/p>\n

\u201cOur vision is to build Virtuix Defense into the next major defense training, technology, and services consortium,\u201d Goetgeluk continued. \u201cWe believe combining Virtuix\u2019s innovative technology with established defense contractors can create a powerful platform for growth. This proposed acquisition would provide a strong foundation from which to pursue that vision.\u201d<\/p>\n

\n Establishing Virtuix Defense<\/strong>\n <\/p>\n

The proposed acquisition would mark the launch of Virtuix Defense, a new division intended to accelerate Virtuix\u2019s expansion into the U.S. defense market and establish a scaled platform for defense training, AI-driven simulation, and C5ISR technology and services. STS International President David Morgan is expected to join Virtuix to lead Virtuix Defense upon closing of the acquisition, and to be appointed to Virtuix\u2019s Board of Directors, subject to customary conditions.<\/p>\n

\u201cWe look forward to joining forces with the Virtuix team to pursue new opportunities and accelerate growth,\u201d said David Morgan, President of STS International. \u201cBy combining our established C5ISR capabilities and customer relationships with Virtuix\u2019s product development and capital markets expertise, we see significant potential to continue to expand our defense business in the years ahead.\u201d<\/p>\n

STS International has advised Virtuix that it has access to multiple government contract vehicles and procurement channels, including a GSA Multiple Award Schedule, SeaPort-NxG, and other Department of Defense IDIQ contracts, and that it maintains compliance infrastructure and certifications required to perform sensitive government work, including CMMC Level 2 cybersecurity compliance and a Facility Clearance Level (\u201cFCL\u201d) with capabilities to support classified work.<\/p>\n

Virtuix believes STS\u2019s established contract vehicles, compliance certifications, and past performance credentials could accelerate Virtuix\u2019s pursuit of larger government opportunities and adoption of its Virtual Terrain Walk (\u201cVTW\u201d), Infantry Fireteam Trainer (\u201cIFT\u201d), and other Omni-based training and AI-driven simulation technologies.<\/p>\n

The proposed acquisition builds on Virtuix\u2019s growing momentum in the defense sector, with milestones spanning multiple branches of the U.S. military. These include the previously announced sale of an Omni One system to the U.S. Army\u2019s Combined Arms Center-Training Innovation Facility at Fort Leavenworth, assignment as lead systems integrator for the U.S. Marine Corps Infantry Fireteam Trainer, continued Marine Corps evaluation of Virtuix\u2019s counter-drone training platform, completion of a Phase I SBIR award through the U.S. Air Force\u2019s AFWERX program, deployment of an Omni One with the Air National Guard, and sales to the U.S. Navy\u2019s Morale, Welfare and Recreation Program. Additional milestones include sales to the U.S. Department of Veterans Affairs and a Cooperative Research and Development Agreement with the Naval Postgraduate School.<\/p>\n

The proposed transaction remains subject to due diligence, financial audit, Virtuix obtaining financing for the cash portion of the consideration (for which Virtuix has no committed financing), required corporate and, if applicable, stockholder approvals, required government and third-party consents, receipt by Virtuix\u2019s Board of Directors of a fairness opinion, the absence of a material adverse change, execution of definitive agreements, and other customary closing conditions. The parties currently intend to complete due diligence, execute definitive agreements, and close the proposed transaction during this fiscal year ending March 31, 2027. Closing would be expected following completion of STS International\u2019s required financial statement audit and satisfaction of applicable closing conditions.<\/p>\n

The LOI is non-binding with respect to the proposed acquisition, and there can be no assurance that the parties will enter into definitive agreements or that the proposed transaction will be completed on the terms described above, within the anticipated timeframe, or at all.<\/p>\n

\n Earnings Conference Call<\/strong>\n <\/p>\n

Virtuix will host a conference call on Monday, November 16, 2026, at 8:30 a.m. Eastern Time to discuss its fiscal second quarter financial results and provide an update on recent milestones and commercial developments, including the proposed acquisition of STS International.<\/p>\n

To access the call, please use the following information:<\/p>\n\n\n\n\n\n\n\n\n
\n Date<\/strong>:<\/td>\nMonday, November 16, 2026<\/td>\n<\/tr>\n
\n Time:<\/strong>\n <\/td>\n8:30 a.m. Eastern time (5:30 a.m. Pacific time)<\/td>\n<\/tr>\n
\n Dial-in:<\/strong>\n <\/td>\n1-877-425-9470<\/td>\n<\/tr>\n
\n International Dial-in<\/strong>:<\/td>\n1-201-389-0878<\/td>\n<\/tr>\n
\n Conference Code:<\/strong>\n <\/td>\n13763588<\/td>\n<\/tr>\n
\n Webcast<\/strong>:<\/td>\n\n https:\/\/viavid.webcasts.com\/starthere.jsp?ei=1781164&tp_key=cbbdd7e49e<\/a>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

A telephone replay will be available approximately three hours after the call and will run through November 30, 2026, by dialing 1-844-512-2921 from the U.S., or 1-412-317-6671 from international locations, and entering replay pin number: 13763588. The replay can also be viewed through the webcast link above, and the presentation utilized during the call will be available on the Company\u2019s investor relations website here<\/a>.<\/p>\n

\n About Virtuix<\/strong>\n <\/p>\n

Virtuix Holdings Inc. (NASDAQ: VTIX) is a developer of AI-driven, full-body immersive simulation systems and the creator of the \u201cOmni\u201d omni-directional treadmill. Virtuix\u2019s technology lets users physically move through virtual and AI-generated environments. The Company\u2019s products are deployed across consumer entertainment, defense training and simulation, robotics, healthcare, research, and enterprise applications involving organizations including Meta, NASA, Tesla, KBR, and Sirica Therapeutics. The Company\u2019s growing federal and defense footprint includes programs, deployments, and research initiatives involving the U.S. Army, Marine Corps, Navy, and Air Force.<\/p>\n

Virtuix continues to expand the Omni brand from immersive entertainment into a broader, full-body simulation technology platform serving multiple commercial and government markets. For more information, visit virtuix.com<\/a> or the Company\u2019s new Investor Relations website at invest.virtuix.com<\/a>.<\/p>\n

\n About STS International<\/strong>\n <\/p>\n

STS International is a U.S. Veteran Owned business with over twenty-five years of experience providing integrated, secure solutions and services to the federal government in the areas of engineering, enterprise asset and logistics management, training and simulation, and professional support services. STS International has focused its efforts in the domains of C5ISR, force protection systems, cyber mission assurance, artificial intelligence and machine learning, robotics and unmanned systems, and medical training and simulation. Its purpose is to achieve mission-success for clients in Defense, Homeland, and National Security through its ability to swiftly meet clients\u2019 needs while sustaining an organization with global operations and a mature infrastructure to support enterprise, end-to-end solutions. STS International was recognized by the Washington Business Journal as a Contractor to Watch and by Inc. 5000 as one of the Fastest-Growing Private Companies.<\/p>\n

For more information, visit https:\/\/www.stsint.com\/<\/a>.<\/p>\n

\n No Offer or Solicitation<\/strong>\n <\/p>\n

This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any securities to be issued in the proposed transaction would be offered in reliance on an exemption from registration under the Securities Act of 1933, as amended, and have not been and will not be registered thereunder.<\/p>\n

\n Cautionary Note Regarding Forward-Looking Statements<\/strong>\n <\/p>\n

This press release contains \u201cforward-looking statements\u201d within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as \u201cmay,\u201d \u201cwill,\u201d \u201cintend,\u201d \u201cbelieve,\u201d \u201cexpect,\u201d \u201cshould,\u201d \u201canticipate,\u201d \u201cproject,\u201d \u201cestimate,\u201d \u201ccould,\u201d \u201cwould,\u201d \u201cpotential,\u201d \u201cgoal,\u201d \u201ctarget,\u201d \u201cvision,\u201d \u201cenvision,\u201d \u201cobjective\u201d or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements in this press release include, without limitation, statements regarding: the proposed acquisition of STS International, including its terms, structure, consideration (including any earnout payments and additional shares issuable) and expected timing, and the parties\u2019 ability to complete due diligence, the STS International financial statement audit and definitive agreements; the expected benefits of the proposed acquisition, including its potential to accelerate the Company\u2019s pathway to profitability and the Company\u2019s pursuit of larger government opportunities and adoption of its training and simulation technologies; the planned launch, leadership, scale and growth of Virtuix Defense; the expected employment or consulting arrangement of David Morgan and his appointment to the Company\u2019s Board of Directors; the expected availability to the Company, following closing, of STS International\u2019s contract vehicles, facility clearance, cybersecurity certifications and past performance credentials; potential impacts on future revenues or shareholder value; the Company\u2019s sales and expansion plans and plans to pursue strategic acquisitions; and the Company\u2019s position in the defense training market. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company\u2019s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to: the risk that the parties do not enter into definitive agreements or that the proposed acquisition is not completed on the anticipated terms or timeline, or at all, including as a result of the non-binding nature of the LOI, the outcome of due diligence or the failure to satisfy closing conditions; the risk that the terms of the proposed acquisition, including the purchase price, change as a result of due diligence or negotiations; the outcome of STS International\u2019s financial statement audit, which may differ materially from the unaudited, cash-basis financial information presented herein; the Company\u2019s ability to obtain financing for the cash consideration on acceptable terms or at all; dilution to existing stockholders from shares issued as consideration, as earnout payments or otherwise; the effect of the announcement or pendency of the proposed acquisition on the Company\u2019s stock price and on the business relationships of the Company and STS International; the failure to obtain required government or third-party consents, including any novation of, or loss of eligibility for, STS International\u2019s contracts, contract vehicles, facility clearance or certifications as a result of the change in ownership; STS International\u2019s dependence on a limited number of contracts and contract vehicles, including the C5ISR Gateway to Sustainment contract vehicle; the Company\u2019s ability to successfully integrate STS International or any other acquired business and to retain key personnel; the Company\u2019s ability to generate demand for its products from government customers; the Company\u2019s ability to identify, negotiate, and complete acquisitions on favorable terms or at all; the Company\u2019s ability to successfully integrate any acquired business; risks related to government contracting, including contract cancellations, modifications, recompetes, protests, funding changes, budget constraints and government shutdowns; the uncertainties related to market conditions; and other factors discussed in the \u201cRisk Factors\u201d section of the Company\u2019s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company\u2019s filings with the SEC, which are available for review at www.sec.gov<\/a>. Forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof, except as required by law.<\/p>\n

Information in this press release regarding STS International, including its historical financial information, has been provided by STS International, is unaudited and presented on a cash basis rather than in accordance with U.S. generally accepted accounting principles, and has not been independently verified by the Company or reviewed by the Company\u2019s independent registered public accounting firm. EBITDA is a non-GAAP financial measure. STS International\u2019s audited financial statements may differ materially from the information presented herein.<\/p>\n

\n Visit Us on Social Media:<\/strong>
\n
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\n Company Contact<\/strong>
\n
Lauren Premo
Virtuix Inc.
press@virtuix.com<\/a><\/p>\n

\n Investor Relations Contact<\/strong>
\n
Chris Tyson
MZ Group
Direct: 949-491-8235
VTIX@mzgroup.us<\/a><\/p>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

STS Brings Extensive Defense and Federal Government Experience Across C5ISR, Engineering, Sustainment, and Training and Simulation STS\u2019s Reported Revenues and Positive EBITDA Could Accelerate Virtuix\u2019s Pathway to Profitability Proposed Acquisition Would Establish Virtuix Defense and Expand Military Contracting Capabilities Through Contract Vehicles, Security Infrastructure, and Customer Relationships AUSTIN, Texas, Nov. 12, 2026 (GLOBE NEWSWIRE) — Virtuix Holdings Inc. (NASDAQ: VTIX) (\u201cVirtuix\u201d or the \u201cCompany\u201d), a leading developer of full-body simulation systems, today announced that it has signed a non-binding letter of intent (\u201cLOI\u201d) to acquire all of the outstanding equity interests of STS International, Inc. (\u201cSTS International\u201d or \u201cSTS\u201d), an Arlington, Virginia-based defense technology and services company with approximately $40 million in unaudited cash-basis revenue for the 10 months ended … <\/p>\n

Continue reading “Virtuix Signs LOI to Acquire Defense Contractor STS International, Reporting $40 Million in Unaudited Cash-Basis Revenue Through October 2026”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1020474","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nVirtuix Signs LOI to Acquire Defense Contractor STS International, Reporting $40 Million in Unaudited Cash-Basis Revenue Through October 2026 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/virtuix-signs-loi-to-acquire-defense-contractor-sts-international-reporting-40-million-in-unaudited-cash-basis-revenue-through-october-2026\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Virtuix Signs LOI to Acquire Defense Contractor STS International, Reporting $40 Million in Unaudited Cash-Basis Revenue Through October 2026 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"STS Brings Extensive Defense and Federal Government Experience Across C5ISR, Engineering, Sustainment, and Training and Simulation STS\u2019s Reported Revenues and Positive EBITDA Could Accelerate Virtuix\u2019s Pathway to Profitability Proposed Acquisition Would Establish Virtuix Defense and Expand Military Contracting Capabilities Through Contract Vehicles, Security Infrastructure, and Customer Relationships AUSTIN, Texas, Nov. 12, 2026 (GLOBE NEWSWIRE) — Virtuix Holdings Inc. (NASDAQ: VTIX) (\u201cVirtuix\u201d or the \u201cCompany\u201d), a leading developer of full-body simulation systems, today announced that it has signed a non-binding letter of intent (\u201cLOI\u201d) to acquire all of the outstanding equity interests of STS International, Inc. (\u201cSTS International\u201d or \u201cSTS\u201d), an Arlington, Virginia-based defense technology and services company with approximately $40 million in unaudited cash-basis revenue for the 10 months ended … Continue reading "Virtuix Signs LOI to Acquire Defense Contractor STS International, Reporting $40 Million in Unaudited Cash-Basis Revenue Through October 2026"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/virtuix-signs-loi-to-acquire-defense-contractor-sts-international-reporting-40-million-in-unaudited-cash-basis-revenue-through-october-2026\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2026-11-12T15:49:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTg3NjEwOCM3OTYxNzQxIzIzMDgxNTk=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"12 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/virtuix-signs-loi-to-acquire-defense-contractor-sts-international-reporting-40-million-in-unaudited-cash-basis-revenue-through-october-2026\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/virtuix-signs-loi-to-acquire-defense-contractor-sts-international-reporting-40-million-in-unaudited-cash-basis-revenue-through-october-2026\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Virtuix Signs LOI to Acquire Defense Contractor STS International, Reporting $40 Million in Unaudited Cash-Basis Revenue Through October 2026\",\"datePublished\":\"2026-11-12T15:49:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/virtuix-signs-loi-to-acquire-defense-contractor-sts-international-reporting-40-million-in-unaudited-cash-basis-revenue-through-october-2026\\\/\"},\"wordCount\":2408,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/virtuix-signs-loi-to-acquire-defense-contractor-sts-international-reporting-40-million-in-unaudited-cash-basis-revenue-through-october-2026\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTg3NjEwOCM3OTYxNzQxIzIzMDgxNTk=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/virtuix-signs-loi-to-acquire-defense-contractor-sts-international-reporting-40-million-in-unaudited-cash-basis-revenue-through-october-2026\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/virtuix-signs-loi-to-acquire-defense-contractor-sts-international-reporting-40-million-in-unaudited-cash-basis-revenue-through-october-2026\\\/\",\"name\":\"Virtuix Signs LOI to Acquire Defense Contractor STS International, Reporting $40 Million in Unaudited Cash-Basis Revenue Through October 2026 - 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(NASDAQ: VTIX) (\u201cVirtuix\u201d or the \u201cCompany\u201d), a leading developer of full-body simulation systems, today announced that it has signed a non-binding letter of intent (\u201cLOI\u201d) to acquire all of the outstanding equity interests of STS International, Inc. 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