Photonis, a provider of highly differentiated technology for defense and industrial markets, held by HLD since 2021, has signed a definitive agreement to acquire Xenics in December 2022. The merged group will provide unique high-end imaging products to their business-to-business customers through mastering of component manufacturing, a large geographical reach and advanced technological capabilities.

Jérôme Cerisier, CEO of Photonis said: “We are thrilled to welcome Paul Ryckaert and the whole Xenics team in Photonis group. With this acquisition, we are aiming to create a European integrated leader in advanced imaging in high-end markets. We will together combine our forces to strengthen our position in the infrared imaging market.”

Paul Ryckaert, CEO of Xenics said: “By combining its strengths with the ones of Photonis group, Xenics will benefit from Photonis expertise and international footprint which will allow us to accelerate our growth. It is a real opportunity to boost our commercial, product development and manufacturing competences and bring even more added value to our existing and future customers.”

The operation is financed by Pemberton, CIC and BNP Paribas. Terms of the transaction were not disclosed and were pending customary clearances and approvals.