- Based in Mérignac near Bordeaux, Photonis is a strategic company in the defense sector, specializing in the intensification of light.
- Exclusive negotiations with the American Teledyne are engaged to buy the company.
- Bruno Le Maire wishes, however, for questions of "protection of our technologies", that a takeover by one or more French industrialists be found.
A takeover by Thales rather than by an American group? The Minister of Economy Bruno Le Maire said Wednesday that the Photonis company, specializing in photodetection and about to be bought by the American Teledyne, will remain in French hands.
Based in Mérignac near Bordeaux (Gironde), Photonis has more than 1,000 employees and works for the aeronautics, research and defense sectors. In particular, it produces light intensification elements used in night vision binoculars and instruments used by the Megajoule Laser, site of the French Atomic Energy Commission intended to test nuclear explosions by simulation.
Minister wants to "guarantee that night vision goggles remain French"
The Ardian fund, owner of Photonis, has entered into exclusive negotiations with the American Teledyne to buy the company, Les Echos newspaper reported on Tuesday. "There is this first option with an American company which has a very good reputation", recognized Bruno Le Maire on BFM Business, even if La Tribune affirms that the Ministries of Defense and of Economy have vetoed this buyout transaction. Bruno Le Maire wishes in any case "that a second solution", namely "finding a French buyer", be privileged which would be coherent with a "logic of sovereignty, protection of our technologies".
"I want everyone - not just the state but also industrial companies - to roll up their sleeves" to seek a "French industrial solution to take over Photonis". The minister wants to "guarantee that night vision goggles which are a sensitive technology and which equip the French army remain French".
Bruno Le Maire notably asks the Thales group to study a takeover of Photonis: “We have a share of the capital in Thales. I think we should start a discussion to see if a recovery is possible. Requested by AFP, Thales did not wish to comment.
"Preserving the national character of strategic companies"
In October, the General Delegate for Armaments (DGA) Joël Barre had told senators to have "asked two prime contractors competent in optronics, Thales and Safran, to look into the matter". The two manufacturers had subsequently indicated that they were not interested, according to several sources close to the file.
The Observatory of French economic intelligence (OIEF), an offshoot of the union representing professionals in economic intelligence, also called on Wednesday to "preserve the national character of strategic companies like Photonis".
Bruno Le Maire wants the manufacturer of night vision glasses Photonis to remain French. The OIEF called on Wednesday to "preserve the national character of strategic companies like Photonis" @Le_Figaro # sovereignty https://t.co/DRGvx7YyqO
- Observatory of French economic intelligence (@Oief_Synfie) March 5, 2020“We propose that a group of industrialists from the defense sector of our country join forces with financial organizations (the BPI - Public investment bank- and French investment funds)” for the takeover of Photonis, OIEF says in a statement posted on Twitter.
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