THEON completes the acquisition of a circa 9.8% stake in Exosens

Core Viewpoint - Theon International Plc has completed the acquisition of a 9.8% stake in Exosens SA for €268.7 million, reinforcing its position as the second largest shareholder and continuing a long-standing commercial partnership [2][3]. Group 1: Acquisition Details - The acquisition was finalized following the completion of all required regulatory notifications, with a cash consideration of €268.7 million, equating to €54.0 per share [2]. - This transaction positions Theon as the second largest shareholder in Exosens, highlighting the strategic importance of this investment [3]. Group 2: Strategic Importance - Theon and Exosens have a long-established commercial relationship, evidenced by the extension of their long-term supply agreement through to 2030 and a new contract for 100,000 night vision goggles (NVGs) for the German Bundeswehr [3]. - The CEO of Theon emphasized the significance of securing the supply chain in a high-growth market, which is crucial for maintaining a leading position in the defense sector [4]. Group 3: Market Outlook - The recent market and geopolitical developments have reinforced confidence in the strategic decision behind the acquisition and the positive outlook for the defense industry [4]. - Theon Group has a global presence with over 240,000 systems in service across 71 countries, including 26 NATO member countries, indicating a strong market position [5].