PRESS RELEASE
Bloomberg (THEON:NA) / Reuters (THEON.AS)
15 June 2026, EUROSATORY (Paris) - Theon International Plc (THEON) is pleased to announce that Safran Electronics & Defense (SAFRAN) and THEON have signed of a Memorandum of Understanding to establish a joint venture dedicated to the design, development and commercialization of airborne electro-optical and infrared systems for unmanned aerial vehicles. The joint venture will combine the complementary strengths of both companies to develop next generation optronic solutions, covering small gimbals weighing less than 8 kilograms, to address the growing demand for intelligence, surveillance, reconnaissance (ISR) and targeting capabilities in defense and security markets.
Safran Electronics & Defense brings its leadership in ISR and electro-optical systems, including expertise in stabilized gimbals, while THEON contributes its know-how in advanced sensors and electro-optical technologies. Together, the partners aim to deliver platform-agnostic solutions spanning the full spectrum of operational needs for affordable mass deployment systems.
"Through this partnership with THEON, we are reinforcing Safran Electronics & Defense's leadership in electro-optical systems, accelerating the development of next-generation, platform-agnostic solutions, and enabling us to deliver ISR capabilities across the full spectrum of missions and operational needs. It marks a concrete step in strengthening Europe's technological sovereignty in a critical defense domain." said Alexandre Ziegler, Head of the Defense Business Unit at Safran Electronics & Defense.
Christian Hadjiminas, Founder and CEO of THEON, commented: "We appreciate SAFRAN's choosing to partner with Theon in one of the fastest-growing segments of the defense market. This is a milestone move for THEON, bringing together our strengths with those of a global leader."
Christian Hadjiminas, Founder and CEO of THEON, Alexandre Ziegler, Executive Vice President, Head of Defense Division of Safran at the signing of the agreement in EUROSATORY in Paris
From left to right: Franck Saudo, CEO of Safran Electronics & Defense, Christian Hadjiminas, Founder and CEO of THEON, Olivier Andriès, Chief Executive Officer of Safran and board member, Alexandre Ziegler, Director of Defense of Safran Electronics & Defence, Philippe Mennicken, Deputy CEO and Business Development Director at THEON
For inquiries, please contact:
| Investor Relations Nikos Malesiotis E-Mail: ir@theon.com Tel: +30 210 6772290 | Media Contact Elli Michou E-Mail: press@theon.com Tel: +30 210 6728610 |
About THEON GROUP
THEON GROUP of companies develops and manufactures cutting-edge night vision and thermal imaging systems for Defense and Security applications with a global footprint. THEON GROUP started its operations in 1997 from Greece and today occupies a leading role in the sector thanks to its international presence through subsidiaries and production facilities in Greece, Cyprus, Germany, the Baltics, the United States, the Gulf States, Switzerland, Denmark, Belgium, Singapore and South Korea. THEON GROUP has more than 280,000 systems in service with Armed and Special Forces in 72 countries around the world, 26 of which are NATO countries. ????? ????RNATIONAL PLC has been listed on Euronext Amsterdam (AMS: THEON) since February 2024.
www.theon.com
About SAFRAN
SAFRAN is an international high-technology group, operating in the aviation (propulsion, equipment and interiors), defense and space markets. Its core purpose is to contribute to a safer, more sustainable world, where air transport is more environmentally friendly, comfortable and accessible. Safran has a global presence, with more than 110,000 employees and revenue of 31.3 billion euros in 2025, and holds, alone or in partnership, global or regional leadership positions in its core markets. Safran undertakes research and development programs to maintain the environmental priorities of its R&T and Innovation roadmaps. Safran is listed on the Euronext Paris stock exchange and is part of the CAC 40 and Euro Stoxx 50 indices.
Safran Electronics & Defense is a high-technology industrial company operating in the aerospace, defense, and space sectors. For over 100 years, the company has been designing, developing, and manufacturing equipment and services for both civil and military clients - on land, at sea, in the air and in space. A leader in its markets, Safran Electronics & Defense offers cutting-edge solutions in avionics, critical electronics, optronics, inertial navigation, precise timing, guidance, actuation, flight controls, satellite engines, and artificial intelligence for industry and defense. Our 19,000 employees across five continents are proud to support their customers, States and their armed forces, in strengthening their autonomy and sovereignty, and to contribute to the safety of air transport passengers.
Attachment
- Press Release THEON JV - SAFRAN_vF
