THEON INTERNAT

Company Description

Theon International is a leading European developer and manufacturer of night vision and thermal imaging systems for military and security forces worldwide. The company's products enable soldiers and security personnel to see in complete darkness, through smoke, fog, and camouflage—capabilities that are increasingly critical in modern defense operations. Theon's product portfolio includes night vision goggles, thermal weapon sights, observation devices, and integrated electro-optical systems. The company has over 200,000 systems in service with armed forces and special operations units in 71 countries, including 26 NATO member states. In December 2025, a contract revision for the massive OCCAR Night Vision Goggle program brought Theon's total backlog (including options) to approximately €2.4 billion—more than double the prior year. Founded in 1997 in Athens, Greece, Theon grew from a regional supplier into a global defense technology company. The company went public on Euronext Amsterdam in February 2024, providing capital for expansion and acquisitions. In January 2026, Theon acquired a 9.8% stake in French sensor company Exosens for €269 million, signaling its ambition to expand through strategic investments. Headquartered in Athens with approximately 300 highly skilled employees (37% of whom are women, up from 23% in 2023), Theon is led by founder and CEO Christian Hadjiminas. With European defense budgets rising and 15% annual industry growth forecast, Theon is positioned as a Greek defense success story expanding across the continent and beyond.