After more than six months of work, Groupe Gorgé has finalized, for 410 million euros, the acquisition of the tricolor technological nugget iXblue, which the defense group Thales also coveted.
This is a structuring operation for the French company, which plans to bring together iXblue and its military robotics subsidiary Eca Group.
The new entity becomes a leading global player in maritime autonomous robotic systems, the fight against surface and underwater mines as well as inertial navigation, aerospace equipment, photonics and quantum technology.
The creation of this more powerful French player, made up of two companies with complementary activities, received the discreet support of the General Directorate of Armaments (DGA), which welcomes the emergence of a supplier of high agile and innovative technologies.
Protection of submarine cables and gas pipelines
"
The operation, launched several months ago, makes even more sense in the current geopolitical context
," said Raphaël Gorgé, CEO of the group, in an interview with
Le Figaro
.
"
Never since the war in Ukraine have we heard so much about surface and underwater mines and deep sea threats
." The sabotage of the two Nord Stream underwater gas pipelines, linking Russia to the Germany is a reminder of how vulnerable its strategic installations are.
In this field, the new iXblue/Eca combination is becoming “
indispensable
” with a range of surface and underwater drones, capable of descending to a depth of 6,000 meters, to patrol and monitor these installations.
Seabed mapping
The new player will also be essential in the field of demining and seabed mapping, in particular to collect data before and after the installation of offshore wind farms. The DriX surface drone, developed by iXblue comes for example to complete the mapping of the bay of Saint-Brieuc where wind turbines are to be installed.
For its part, Eca has just delivered Ifremer a new generation underwater drone, called Ulyx, capable of descending to 6,000 meters from the surface of the sea in complete autonomy, dedicated to deep sea exploration.
The acquisition of iXblue is carried out by the holding company, Groupe Gorgé, which takes 62% of the new entity.
The Anglo-Saxon investment fund ICG is participating in the transaction, to the tune of 230 million, and takes 33% of the shares.
Hervé Arditty, founding shareholder of iXblue, brings, for his part, 24 million and takes 5% of the shares, via his iXcore holding company.
Groupe Gorgé holds a call option on 33% of ICG, which it can exercise after four years.
"
It's a merger between equals
," says Raphaël Gorgé.
iXblue and Eca Group have almost the same size, complementary activities and know each other well because they have been cooperating for more than ten years, within the framework of several European programs.
150 recruitments
Created in the early 2000s, iXblue weighs more than 130 million in sales with 750 employees.
The SME has recognized cutting-edge expertise, particularly in inertial navigation, specialized drones and sonars used in deep sea exploration as well as shipbuilding in its La Ciotat shipyard.
The company, which was one of the first to develop and commercialize fiber optic gyroscope (FOG) technology, has a thousand civilian and military customers.
For its part, Eca weighs 120 million in turnover, with 750 employees, and is more present in the military, with a complete range of robots and maritime, land and air drones.
"
The new group will have a balanced activity, with 50% of its turnover generated in the civilian sector and 50% in defence
”, sums up Raphaël Gorgé.
Given the dynamism of the two companies, which are posting double-digit growth in booming markets, the operation will have no negative impact on employment.
On the contrary, “
we are recruiting with 150 positions currently offered
”, specifies the CEO of the group.
In the commercial field, the two companies will support each other: “
iXblue, which is present on the hydrography markets, will help Eca to market its underwater drones;
conversely, Eca will support iXblue to sell its sonars to its customers
,” explains Raphaël Gorgé.
The new player also plans to bring together its R&D teams in order to "
form the best task force in the field of sonars, artificial intelligence and autonomous systems
".
Eventually, common ranges are planned.
The new iXblue/Eca group is targeting 500 million sales and a margin (Ebitda) of 25% by 2025-2026.
It plans to generate 30 million in annual synergies over this period.
As for Groupe Gorgé, it is aiming for between 700 and 800 million in turnover over the next three to four years.