Photonis announces agreement to acquire Xenics, a leader in Infra-Red imaging solutions

Photonis a global leader of highly differentiated technology for defence and industrial markets, held by HLD since 2021, announced that it has signed a definitive agreement to acquire Xenics, a specialist developer and manufacturer of edge infrared solutions.

With over 65 people across the world and headquarters based in Leuven, Belgium, Xenics is an established infrared Centre of Competence and Europe’s supplier of Short Wave InfraRed (SWIR) imagers steadily growing internationally with sales offices worldwide.

By welcoming Xenics to Photonis, the merged 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 . 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 , 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.

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.