THEON Enters into Exclusivity Agreement for the Acquisition of HGH Systèmes Infrarouges, Accelerating Expansion into Multi-Domain ISR & Counter-UAS Solutions

PRESS RELEASE Bloomberg (THEON:NA) / Reuters (THEON.AS) 17 June 2026 – Theon International Plc (THEON) announces that it has entered into an exclusivity agreement with Carlyle for the acquisition of SAS Stéropès, the holding company of SAS HGH Systèmes Infrarouges ( HGH ) for an enterprise value of approximately €300 million. HGH designs, develops, assembles and markets electro-optical and infrared solutions systems for Defense and Civil applications. The company was founded in 1982 in France and currently employs more than 130 people with a primary focus in R&D. HGH has a highly agile and IP-driven business model that is fully compatible with THEON. The acquisition would broaden THEON's Multi-Domain ISR (Platform Electro-Optics) product portfolio and company's counter drone (C-UAS) solutions. These are supported by advanced detection and classification capabilities based on HGH's proprietary ITAR free technology using unique and patented AI features. This is a significant milestone in THEON's strategy to rapidly establish itself as a leader in platform electro-optics. It follows the acquisition of Kappa Optronics and its recently announced order buildup, the investment in ShockEOS and the subsequent selection of THEON's PHYLAX gimbal by Rheinmetall and the Joint Venture with Safran for the creation of Unmanned Aerial System (UAS) electro-optics. The above demonstrate that THEON's approach is already generating tangible commercial results and the addition of HGH would materially increase the contribution of Multi-Domain ISR to THEON'S revenue and profitability. This agreement reinforces THEON's strategic commitment to France, further expanding its industrial base and strengthening its connection to the French supplier and customer communities. France will become an important export hub for THEON, as well as an AI R&D center, building on HGH's current AI capabilities. Deal Structure THEON is to acquire 100% of HGH at a mid- to high-teens EV/EBITDA multiple pre-synergies and at c. 10x post the full impact of ... Full story available on Benzinga.com