PARIS --- Florence Parly, Minister of the Armed Forces, announced that the State is working with French industrial and financial players on a national takeover solution to preserve the sovereignty of Photonis, a company essential to French military operations.
The offer to buy Photonis by the Teledyne company has not been approved under the regulations governing foreign investment in France.
This decision is part of a desire to protect the strategic interests of France, of which Photonis is a part, while ensuring the sustainability of this excellent company.
Photonis specializes in electro-optic technologies, in particular for night vision binoculars for the French armed forces. It also has activities in the nuclear field. These world-class technologies guarantee industrial excellence and France's operational capacity.
As Teledyne reported, its proposed acquisition of Photonis has not been approved under regulations relating to foreign investment in France. The French Ministry of the Armed Forces reaffirms its full confidence in Teledyne which, with more than 850 jobs in France, is an important partner.
The state’s decision was motivated by the strong will of the French government to protect and guarantee French economic and industrial defense sovereignty. In this case, the conditions for taking over the company Photonis did not meet these requirements.
The French Ministry of the Armed Forces is now working on an alternative buyout solution with French industrial and financial players active in the optronics sector.