[Shield AI to Acquire Echodyne for $5.3 Billion, Valuing the Company at $28.8 Billion] According to Bloomberg, U.S. defense technology startup Shield AI plans to acquire radar sensor company Echodyne for $5.3 billion. The deal includes $4.8 billion in cash and equity, plus an additional $500 million depending on Echodyne's milestone achievements. Shield AI will also raise $2.5 billion in new funding to support the acquisition, including a $1 billion structured equity financing from Blackstone Group and a $500 million debt financing from JPMorgan Chase. Combined with its previously completed $1 billion Series H funding round, this will value the company at $28.8 billion, more than double its $12.7 billion valuation in March. This funding will be available upon completion of the acquisition. Founded in 2015, Shield AI primarily develops Hivemind, an AI software system for autonomous aircraft.