THEON strengthens its position in the production of Image Intensification Tubes for defense and security by acquiring a 9.8% stake in Exosens SA (EXOSENS) for a cash consideration of 268.7 million euros, corresponding to 54.0 euros per share.
For this purpose, THEON has reached a definitive agreement with the investment companies HLD Europe SCA, Invest Prince Henri SCA and Invest Gamma Sarl, which belong to Groupe HLD (HLD).
This specific business move took place one year after the signing of a long-term commercial agreement between THEON and EXOSENS. As THEON pointed out, this was essential not only to secure its supply, but also to further reduce the delivery times of new orders.
This is one of THEON’s most important competitive advantages in the Night Vision market. As the largest purchaser of lamps worldwide, THEON maintains a leading market share, especially among European lamp manufacturers.
According to the company, currently, the global supply and demand for Light Intensifier Lamps is in a delicate balance, given the relatively limited production availability worldwide. Light Intensifier Lamps are a critical component of night vision instruments, constituting a significant part of their cost. EXOSENS is a high-tech company focused on the production of Image Intensification Tubes for defense and security.
As Christian Hadjiminas, Founder and CEO of THEON, emphasized after the acquisition of the stake in Exosnes, “THEON and EXOSENS have been close commercial partners for years, having undertaken important projects in Europe and the Middle East. THEON remains committed to maintaining its long-term commercial cooperation with EXOSENS, which continues to be governed by the existing contractual agreements.”
Upon the completion of the transaction, THEON will become the second largest shareholder of EXOSENS, after Groupe HLD.
