© Thales Group Electronics Production | December 20, 2017
Thales to acquire Gemalto
Thales and Gemalto says that they have reached an agreement on a recommended all-cash offer for all issued and outstanding ordinary shares of Gemalto.
“The acquisition of Gemalto marks a key milestone in the implementation of Thales’s strategy. Together with Gemalto’s management, we have big ambitions based on a shared vision of the digital transformation of our industries and customers. Our project will be beneficial to innovation and employment, whilst respecting sovereign strategic technologies,” says Patrice Caine, Thales’s Chairman and CEO in a press release. Thales is offering EUR 51 per share, creating a total price tag of EUR 4.8 billion for the company. And as some of you might remember, Gemalto just recently rejected a EUR 4.3 billion offer from French firm Atos. With the acquisition, Thales is welcoming Gemalto’s 15’000 employees to the Group. And Thales says it does not se any reason for a reduction in Gemalto’s workforce as a consequence of this transaction. “I am convinced that the combination with Thales is the best and the most promising option for Gemalto and the most positive outcome for our Company, employees, clients, shareholders and other stakeholders. We share the same values and Gemalto will be able to pursue its strategy, accelerate its development and deliver its digital security vision, as part of Thales,” says Philippe Vallée, Gemalto’s Chief Executive Officer. Over the past three years, Thales has significantly increased its focus on digital technologies, investing over EUR 1 billion in connectivity, cybersecurity, data analytics and artificial intelligence, in particular with the acquisition of Sysgo, Vormetric and Guavus. The integration of Gemalto strongly accelerates this strategy. Altogether, this new business unit will represent about 20% of pro forma Group revenues. By acquiring Gemalto, Thales adds over EUR 3 billion of revenue to its digital business sales and acquires a set of technologies and competencies that have applications in all of Thales’s five vertical markets. The transaction is expected to close shortly after Thales has secured all customary regulatory approvals and clearances, which is expected for the second half of 2018.
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