Thales has announced that it has reached an agreement to acquire the American company Vormetric, specializing in data security, for 400 million dollars (approximately 351 million euros). The transaction should be completed during the first quarter of 2016.
$ 75 million in expected revenue
Based in San Jose, California, Vormetric develops data security solutions, particularly in terms of cloud and Big data. The company markets, for example, encryption or even access management offers. It supports its clients in “protecting their sensitive data against both internal and external threats”. The company, which has around 200 employees, claims more than 1,500 customers in its portfolio, and expects to achieve $ 75 million in sales for the current fiscal year.
“The acquisition of Vormetric is a tremendous opportunity to accelerate the growth of our cybersecurity business. The combination of Thales’s critical IT systems protection capabilities and Vormetric’s know-how in data protection will create a world leader in the data security market, with a comprehensive offering to protect data. companies against cyberthreats ”, says Patrice Caine, CEO of Thales.
Gemalto bought SafeNet in January
Vormetric’s activities will indeed complement those of Thales e-Security, already specialized in cryptography. The structure, which has more than 500 employees, offers solutions for identity management, secure payment and electronic signature.
This is not the first time that a French group has carried out such an operation in the sector. In January, the French group Gemalto had for its part acquired the American company SafeNet, a specialist in data protection, for 890 million dollars.