Groupe Gorge Finalizes Acquisition of iXblue, Merges it With Subsidiary

A merger agreement led by Groupe Gorge, a French industrial group, will combine advanced navigation, photonics, and maritime autonomy solutions company iXblue with ECA Group, a Groupe Gorge subsidiary that develops solutions for robotics, automation systems, simulation, and industrial processes. Groupe Gorge announced the then-pending business combination in March with its agreement to acquire iXblue. It submitted a nonbinding indicative offer for the acquisition of the company in 2021.

Groupe Gorge has now finalized the acquisition for an enterprise value of €410 million (~$401.41 million).

According to Groupe Gorge, the combined company will employ 1500 people and generate and revenues in over 80 countries. In addition to photonics, it will be active in maritime autonomous robotic systems, particularly for underwater mine-hunting, high-performance inertial navigation solutions, products and equipment for aerospace, and quantum sectors.

The ECA-iXblue group aims to achieve revenues of more than €500 million by 2025-2026. In the immediate term, it will generate annual revenues of €250 million (~$244.9 million). In March, Groupe Gorge said the pending merger placed the value of the combined company at ~€800 million ($783.6 million).

iXblue generated revenues of €28 million (~$27.41 million) in photonics components in 2021. The company manufactures and markets optical components, specialty optical fibers, laser systems, and quantum sensors. In May 2021, iXblue acquired optical components and instruments company Kylia and integrated quantum instruments specialist Muquans.