Thales acquisition of Vormetric to close early 2016News
October 21, 2015
PARIS. To grow its cybersecurity solutions, Thales has signed a definitive agreement to acquire Vormetric for $400 million. The acquisition is expected to close during the first quarter of 2016 after the transaction undergoes customary closing conditions.
"Combining Thales critical IT systems protection capabilities with Vormetric's know-how in data protection will create a global leader in data security, offering comprehensive solutions for protecting enterprises against cybersecurity threats," says Patrice Caine, Chairman & CEO of Thales.
Vormetric – located in San Jose, California - provides data protection solutions in physical, virtual, and cloud infrastructures. This acquisition complements Thales e-Security cybersecurity solutions.
"The opportunity to join Thales has come at a time when the world is focused on data to enable business due to the explosive growth of mobile, cloud, and social media. Jointly we are in a unique position to offer leading security solutions to protect data, while broadening the support to our customers and partners globally," says Alan Kessler, President & CEO of Vormetric.