French group Thales buys two cybersecurity firms

French group Thales buys two cybersecurity firms


The logo of the French defense and electronics group Thales is seen at the company’s headquarters in Merignac, near Bordeaux, France, on March 22, 2019. REUTERS / Regis Duvignau

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PARIS – May 17 (Reuters) – France’s Thales (TCFP.PA) said on Tuesday it had reached an agreement with Sonae Investment Management to acquire two European cybersecurity companies, S21sec and Excellium, for a business value of 120 million euros ($ 125.32 million).

Europe’s largest arms electronics supplier, which also manufactures civil aircraft parts and digital security systems, added in a statement that the two companies generated sales of 59 million euros in 2021 with a staff of 546 employees.

“The acquisition (…) is a major step forward for Thales in the highly dynamic market for managed cybersecurity consulting and services, which is expected to grow significantly between 2020 and 2025,” Thales said in a statement.

Thales, which employs 81,000 people worldwide, said it would hire 11,000 people this year, including 1,000 in cybersecurity.

($ 1 = $ 0.9576)

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Report by Benoit Van Overstraeten; Mounting Sudip Kar-Gupta

Our standards: Thomson Reuters’ principles of trust.



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