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20 Nov 2024
French imaging and analytical technology group aiming to add MWIR camera specialist to growing portfolio.
Exosens, the France-based technology group previously known as Photonis, is set to further grow its burgeoning camera portfolio with the acquisition of Noxant.
Located in the Paris suburbs, Noxant specializes in high-performance cooled imagers operating at mid-infrared wavelengths.
The agreement between the two firms allows Exosens to enter into exclusive negotiations to pursue the acquisition, and if consummated it would complement existing camera expertise in the form of Xenics, Telops, and another pending acquisition, Night Vision Laser Spain (NVLS).
Gas imaging
Noxant sells its range of cameras for applications including surveillance, scientific research, industrial testing, and gas detection - the latter said to represent a “strong synergistic addition” to Exosens’ existing camera offering.
Exosens CEO Jérôme Cerisier said: “Through this acquisition, we would broaden Exosens' technological spectrum by offering cutting-edge cooled infrared solutions to meet the growing demands of our OEM customers.
“Noxant's expertise in cooled infrared technology aligns perfectly with our mission to deliver high-performance, reliable imaging solutions for critical applications.
“Furthermore, the synergies between Noxant and Telops would strengthen our research and development capabilities and accelerate our innovation in infrared technologies.”
At the moment Noxant serves OEMs primarily, whereas Telops tends to target end users, meaning opportunities for cross-selling under the Exosens umbrella organization.
Its products include the “NoxCore” range of camera cores, “NoxCam” cameras, and the “GasCore” series of high-performance optical gas imaging cameras. Offering a spectral range of 3-5 µm in the MWIR or 7-10 µm in the long-wave infrared (LWIR), these are able to image a large number of process and pollutant gases including methane, carbon dioxide, and nitrous oxide.
Commenting on the likely business combination, Noxant chairman Laurent Dague suggested that joining forces with Exosens would represent a “perfect match”, and a deal that would enable Noxant to continue delivering advanced cooled infrared technology while benefiting from Exosens' much larger scale and customer reach.
Growing business
While Noxant’s 22 employees generated annual revenues of approximately €12 million in the 12 months ending June 2024, Exosens’ most recent financial results showed sales of €274 million for the nine months up to September 30 this year.
That figure represented a 33 per cent jump on the same period in 2023, largely due to much higher sales of the firm’s microwave amplification products, which contributed €200 million to the total.
Meanwhile Exosens’ detection and imaging businesses contributed close to €77 million, up from €47 million for the same nine-monthly period last year - partly through the addition of Telops and Photonis Germany (formerly ProxiVision).
Not all of those sales relate to optical technology, with the company also selling neutron and gamma-ray detectors used in the nuclear industry.
Last month Exosens announced that it had signed a definitive agreement to acquire NVLS, which produces man-portable night vision and thermal devices from its base in Madrid.
That deal should see NVLS further develop its business in Spain, Latin America and Asia, while also broadening Exosens’ know-how in optical and mechanical technologies.
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