Photonis announces agreement to acquire Telops

Photonis a global leader of highly differentiated technology for defence and industrial markets, held by HLD since 2021, announced today the signature of a definitive agreement to acquire the Canadian company Telops, a specialist developer and manufacturer of high-performance hyperspectral imaging systems and infrared cameras.

With over 100 people including more than 40 R&D experts and headquarters based in Quebec, Canada, Telops is a recognized infrared imaging company, offering high end products at the edge of the art for research labs and international customers. Telops has distinguished itself with the quality of its personal and innovative approach to the technological challenges in the field of optics and photonics.

By welcoming Telops to Photonis, 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 pleased to welcome Jean Giroux and the whole TELOPS team in Photonis Group. With this acquisition, we continue to extend our technology expertise by adding hyperspectral capabilities to our portfolio. It will open the way to enter the North American methane detection market with key assets and contribute to our pursuit of building a safer world.”

Jean Giroux, CEO of Telops said: “By combining our strengths with Photonis Group, Telops will benefit from the Photonis expertise and international footprint which will allow us to accelerate our growth. We will consolidate our position on the European market and continue to meet new technological challenges.”

The operation is financed by Pemberton, CIC, BNP Paribas, LCL and Société Générale.

The transaction is expected to be finalized in the coming weeks. Terms of the transaction are not being disclosed and are pending customary clearances and approvals.