Thales closes acquisition of cloud security company, VormetricNews
March 21, 2016
PARIS. Thales Group officials announced that the company's acquisition of Vormetric for ?375 million has closed following the approval of regulatory authorities. The acquisition, which enables Thales to add capability in data protection and cybersecurity, will place the Vormetric operation Thales?s cybersecurity business.
Vormetric is a provider of data protection solutions in cloud and virtual infrastructures as well as physical structures. The deal price is about 375 million euros, (about $422 million).
“Thales is very excited that this acquisition has now closed and welcomes Vormetric’s talents as part of the family. "The combination of Vormetric and Thales e-Security’s expertise will create a world leader in data protection and a reference in cybersecurity," says Patrice Caine, Chairman & CEO of Thales. "Today, businesses generate a rising volume of sensitive data for which Thales offers unparalleled protection solutions and services to answer the most demanding clients.”
The combination of Vormetric and Thales e-Security’s activities enables organizations to guard and control their data from the data center to the cloud, while enhancing their security posture and meeting data privacy compliance, Thales Group officials say.