Bloomberg (THEON:NA) / Reuters (THEON.AS)
4 May 2026, Theon International Plc (THEON) is pleased to announce that it has agreed on binding terms, having entered into an exclusivity agreement with the sole shareholder of Merio SAS (MERIO), RPL Développement, to acquire upfront an 80% stake of MERIO. The conclusion of the transaction is subject to consummation of long-form documentation and customary closing conditions, including regulatory approvals. The transaction will be financed through a combination of debt and internally generated cash.
Foreseen Deal Structure
THEON to acquire 80% of MERIO at an accretive EBIT multiple. MERIO is expected to generate above €15 million in revenues in FY 2026 and a projected EBIT of above €3.5 million. The management team and key employees will remain in the business.
Company Profile
MERIO is a French designer and manufacturer of compact, high‑performance gyrostabilized gimbal and turret systems for aerial, ground, infrastructure protection and emerging maritime applications (from loitering munitions and UAVs to C‑UAS systems and UGVs), with embedded AI‑driven video‑processing capabilities. Founded in 2014 and headquartered in Saint‑Paul‑Trois‑Châteaux, the company has a fast‑growing team of around 40 highly skilled engineers and a strong technological edge across hardware, electronics, mechanics, and software integration.
With ITAR‑free technologies, a predominantly French and European supply chain, and comprehensive after-sales support capabilities, MERIO provides reliable, rapidly deployable solutions that complement and enhance THEON's broader product offering.
Investment Rationale
Portfolio diversification: strengthening THEON's Platform-based products suite and entering the drones market rapidly
Geographic expansion: establishing a strategic export-driven presence in France ...
