03.29.18
With the publication of the Offer Document and with reference to the joint press release dated Dec. 17, 2017, Thales and Gemalto announced that Thales is launching its recommended all-cash offer to all holders of issued and outstanding shares in the capital of Gemalto for €51.00 per share, cum dividend.
“The publication of the offer document is the first major step of the proposed acquisition of Gemalto, to create a world leader in digital security,” Patrice Caine, Thales’ chairman and CEO, said.
“Thales’s and Gemalto’s teams are working together to obtain the required authorizations for the success of the operation,” Philippe Vallée, Gemalto’s CEO, added.
“After full and careful review with its financial and legal advisors of the various options available to the company, the Gemalto Board of Directors unanimously recommends Gemalto’s shareholders tender their shares into the offer,” Alex Mandl, chairman of Gemalto’s Board of Directors, stated. “I am counting on the support of all the company’s shareholders for the upcoming general meeting.”
The acceptance period will commence on March 28, 2018 at 9:00 hours CET (3:00 am New York time), and will end on June 6, 2018 at 17:40 hours CET (11:40 am New York time). Thales plans to extend this period until customary conditions for a transaction of this kind are met, in particular obtaining the required regulatory clearances.
By combining their businesses, Gemalto and Thales have the intention to create a leading global player in digital security. Over the past three years, Thales has significantly increased its focus on digital technologies, investing more than €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, reinforcing Thales’s digital offering, across its five vertical markets (aeronautics, space, ground transportation, defence and security).
Combined with Gemalto’s unique leading digital security portfolio, Thales will be ideally positioned to offer end-to-end solutions to secure the full critical digital decision chains, from data creation in sensors to real-time decision making.
By acquiring Gemalto, Thales adds approximately €3 billion of revenue to its digital business sales and acquires a set of technologies and competencies that have applications across Thales’s five vertical markets. The combination creates a solution portfolio including security software, expertise in biometrics and multifactor authentication, and the issuance of secure digital and physical credentials. These technologies, which combine diverse and constantly evolving use cases, are expected to yield significant commercial opportunities and revenue synergies in the years ahead.
Thales will combine its digital businesses with Gemalto, which will continue to operate under its own brand as one of the seven Thales global business units. Both Thales and Gemalto management teams share a common industrial vision and endorse the growth project of this newly created digital security global business. The Gemalto CEO, Philippe Vallée, will lead this newly created “Digital Security” global business unit.
“The publication of the offer document is the first major step of the proposed acquisition of Gemalto, to create a world leader in digital security,” Patrice Caine, Thales’ chairman and CEO, said.
“Thales’s and Gemalto’s teams are working together to obtain the required authorizations for the success of the operation,” Philippe Vallée, Gemalto’s CEO, added.
“After full and careful review with its financial and legal advisors of the various options available to the company, the Gemalto Board of Directors unanimously recommends Gemalto’s shareholders tender their shares into the offer,” Alex Mandl, chairman of Gemalto’s Board of Directors, stated. “I am counting on the support of all the company’s shareholders for the upcoming general meeting.”
The acceptance period will commence on March 28, 2018 at 9:00 hours CET (3:00 am New York time), and will end on June 6, 2018 at 17:40 hours CET (11:40 am New York time). Thales plans to extend this period until customary conditions for a transaction of this kind are met, in particular obtaining the required regulatory clearances.
By combining their businesses, Gemalto and Thales have the intention to create a leading global player in digital security. Over the past three years, Thales has significantly increased its focus on digital technologies, investing more than €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, reinforcing Thales’s digital offering, across its five vertical markets (aeronautics, space, ground transportation, defence and security).
Combined with Gemalto’s unique leading digital security portfolio, Thales will be ideally positioned to offer end-to-end solutions to secure the full critical digital decision chains, from data creation in sensors to real-time decision making.
By acquiring Gemalto, Thales adds approximately €3 billion of revenue to its digital business sales and acquires a set of technologies and competencies that have applications across Thales’s five vertical markets. The combination creates a solution portfolio including security software, expertise in biometrics and multifactor authentication, and the issuance of secure digital and physical credentials. These technologies, which combine diverse and constantly evolving use cases, are expected to yield significant commercial opportunities and revenue synergies in the years ahead.
Thales will combine its digital businesses with Gemalto, which will continue to operate under its own brand as one of the seven Thales global business units. Both Thales and Gemalto management teams share a common industrial vision and endorse the growth project of this newly created digital security global business. The Gemalto CEO, Philippe Vallée, will lead this newly created “Digital Security” global business unit.
