Thales Sale May Create Strong Optical Competitor

Thales and Candover Investments plc have reached agreement on the sale of Thales High Tech Optics (HTO) activities in the UK, US, Singapore, Germany and Hungary. Under the agreement, Candover has acquired the businesses, regarded as non-strategic for Thales, for a total consideration of EUR 220 million (USD $264.4 million), payable in cash. The sale is conditional upon regulatory approval. Based on statements from both Thales HTO and Candover, further acquisitions and expansion are definite possibilities for the new company. Meanwhile, firms like South Africa’s Denel, who had intended to position themselves as niche partners to the larger European defense firms, may be watching the emergence of an important optical and optronics competitor. Eurofighter HUD Thales HTO designs and manufacturing high precision optical components and modules for both military and civil applications. It is active in four main areas: infantry night vision, optical components, optical modules and optical coatings. HTO has principal operations in the UK and Singapore and various other manufacturing or commercial activities in France, Germany, Hungary and the US. The company employs approximately 1,400 people and reported revenues of EUR 124 million in 2004. In the UK the company specialises in the design and manufacture of complex […]