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Electronics Production | July 11, 2008

nCipher accepts Thales offer

Thales UK and nCipher have reached agreement on the terms of a recommended cash offer to be made by Thales UK for the entire issued and to be issued share capital of nCipher.
Under the terms of the Offer, nCipher Shareholders will receive 300 pence in cash for each nCipher Share. Accordingly, as at 10 July 2008, the Offer values the existing issued ordinary share capital of nCipher at approximately £50.7 million.

Commenting on the Offer, Alex Dorrian, CEO of Thales UK said: “The acquisition underpins our strategy of investing in growing sectors like security.”

Commenting on the Offer, Robert Jeens, Chairman of nCipher said: “The Board of nCipher believes that this offer recognises the inherent value of our technology, services and staff, as well as delivering significant value to shareholders.”

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