THEON completes the acquisition of Harder Digital

09 Oct 2024 18:07 CEST

THEON completes the acquisition of Harder Digital

Bloomberg (THEON:NA) / Reuters (THEON.AS)

Nicosia, 9 October 2024 – Theon International Plc (THEON), has received approval from the German government for foreign direct investment (FDI) into Harder Digital group (Harder Digital), with effect from 7 October 2024, after receiving all official approvals. The acquisition, first announced in September, will be performed through a cash injection of €34 million. This investment will allow THEON to vertically integrate by insourcing a critical component of the Night Vision value chain and gain access to a niche technology.

The first tranche, totalling €10 million, will take place in October and will be used to upgrade Harder Digital’s production facilities and increase the capacity of Gen III Image Intensifier Tubes (IIT) manufacturing lines in Germany.

Harder Digital was established in 1999, having its HQ in Woltersdorf, Germany and operating subsidiaries in Germany, Serbia and Latvia. Harder Digital has become one of the few companies in the field of Image Intensification, covering a range of Gen I, Gen II and Gen III as well as custom made IIT and components. Harder Digital exports its products to over 30 countries globally.

THEON announces the 9m 2024 trading update on Tuesday, 14 October 2024, after market close.

For further information, please contact:

Investor Relations:

Nikos Malesiotis

E-Mail: ir@theon.com

Tel: +30 210 6772290 

Media contact:

Vassilia Orfanou

E-Mail: press@theon.com

Tel: +30 210 6728610 

About THEON

THEON INTERNATIONAL PLC is the parent company of THEON SENSORS S.A., a leading manufacturer of Night Vision and Thermal Imaging systems for defense and security applications with a global footprint. THEON SENSORS S.A. started its operations in 1997 from Greece and today plays a leading role in the industry with international presence, including offices in Greece, Cyprus, USA, UAE, Switzerland and Singapore, as well as 3 production facilities in Athens, Wetzlar (Germany) and Plymouth (USA). Through this network of companies, offices and facilities around the world, THEON SENSORS S.A. has more than 170,000 systems in service with Armed and Special Forces in 70 countries around the world, 26 of which are NATO countries. ΤΗΕΟΝ ΙΝΤΕRNATIONAL PLC listed its shares on Euronext Amsterdam in February 2024.

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