THEON International
About
About THEON International
THEON’s core portfolio includes night-vision monoculars and binoculars, thermal sights, clip-on systems, fused devices and vehicle-awareness equipment. The group designs, assembles, aligns and qualifies the systems through vertically integrated production, while adapting optics, housings and interfaces to individual military procurement requirements.
Its platform-based business is expanding through Kappa Optronics, investment in AI software and planned acquisitions of MERIO and HGH. These additions bring stabilised UAV gimbals, embedded video processing, panoramic infrared sensing and counter-UAS capabilities into the group. THEON reports more than 300,000 systems delivered across 73 countries.
Operations
Orders & commitments
- Order / commitment
2026-04-08 - Rheinmetall selected THEON to develop, qualify and serially supply PHYLAX stabilized multisensor systems under an agreement valued above EUR 40 million. - PHYLAX development and serial supply agreement
Source
Supply
Supply chain relationships
- Rheinmetall
Outbound - Perception - THEON will develop, qualify and serially supply PHYLAX multisensor systems for Rheinmetall SEOSS 210 P sights
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Team
- Christian Hadjiminas - Founder & CEO - Leads the group and its defence-optronics strategy.
- Philippe Mennicken - Executive Director, Deputy CEO & Business Development Director - Leads business development and supports executive management.
- Dimitris Parthenis - Chief Financial Officer - Leads group finance and reporting.
Timeline
Events
- 2026-07-27 - Market Signal - THEON reports 38.5% H1 order-intake growth and expands uncrewed-system sensing
Order intake increased 38.5% and revenue increased 35.4% year on year. Soft backlog was EUR 1.46 billion. The financial figures cover the wider optronics group; UAV gimbals and counter-UAS are identified expansion lanes, not the whole revenue base.
Source - 2026-06-15 - Partnership - Safran and THEON sign MoU for UAV electro-optics joint venture
The proposed joint venture will focus on electro-optical systems for unmanned aircraft. Safran and THEON intend to combine sensor, optronics and defence-market capabilities to accelerate fielding. The memorandum sets the structure for creating the venture and developing UAV electro-optical solutions.
Source - 2026-04-08 - Contract Award - Rheinmetall selects THEON PHYLAX under agreement exceeding €40 million
The programme covers development and supply of the PHYLAX stabilized multisensor system. Serial production follows successful development and qualification and is not represented as already completed.
Source - 2026-01-14 - Acquisition - THEON completes acquisition of Kappa Optronics
The transaction transferred full ownership of Kappa Optronics to THEON. THEON’s Q1 2026 materials put closing consideration at €69.9 million.
Source - 2024-02-07 - Market Signal - THEON lists on Euronext Amsterdam under ticker THEON
THEON began trading on Euronext Amsterdam under ticker THEON. The associated private placement was priced at €10 per share.
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Relations
Relationships
- Kappa Optronics
Acquired Subsidiary - THEON completed its acquisition of 100% of Kappa Optronics.
- Safran Electronics & Defense
Planned UAV Electro Optics Joint Venture Partner - Safran and THEON signed a memorandum to form a joint venture for UAV electro-optical systems.
Commercial
- Rheinmetall selects THEON PHYLAX under agreement exceeding €40 million
2026-04-08 · Order / contract · Rheinmetall selected THEON’s PHYLAX stabilized multisensor system under a strategic development and supply agreement valued above €40 million.
Source