Theon International PLC: THEON completes the acquisition of Harder Digital

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
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