Thales, the aerospace and defense electronics group, recently announced the takeover of cybersecurity firm Gemalto in a cash deal of 4.8 billion euros ($5.4 billion) to boost its presence in the security services market.
Headquartered in France, Thales designs and builds electrical systems and provides services for the aerospace, defense, transportation, and security markets. The company stated the acquisition of Gemalto will increase its revenues and help to expand its reach in Latin America, North America, and Asia. Gemalto is a digital security company providing software applications, secure personal devices like smart cards, tokens, and managed services.
Thales stated that it will develop secure solutions to address the major challenges in data and network cybersecurity, unmanned air traffic management, airport security, and financial transaction security by incorporating the talent and technologies of Gemalto. The latest acquisition will help to build a strong portfolio of digital identity and security solutions based on technologies such as cybersecurity, biometry, and data protection.
“With Gemalto, a global leader in digital identification and data protection, Thales has acquired a set of highly complementary technologies and competencies with applications in all of our five vertical markets, which are now redefined as aerospace; space; ground transportation; digital identity and security; and defence and security. These are the smart technologies that help people make the best choices at every decisive moment. The acquisition is a turning point for the Group’s 80,000 employees. Together, we are creating a giant in digital identity and security with the capabilities to compete in the big leagues worldwide,” said Patrice Caine, Chairman and CEO, Thales.