French aerospace and defense group Thales has reached an agreement to buy Dutch digital company Gemalto in a deal worth $5.6 billion
Gemalto produces SIM cards and Near Field Communications technology for mobile phones in addition to secure transaction platforms for banks. The company also creates biometric security technologies for passports and other government-issued documents. Gemalto also provides encryption and cloud security services for enterprises, as well as connectivity, monetization and security services for the “internet of things.”
The acquisition of Gemalto marks a key milestone in the implementation of Thales’s strategy. Together with Gemalto’s management, we have big ambitions based on a shared vision of the digital transformation of our industries and customers. Patrice Caine, Thales’s Chairman and Chief Executive Officer
As for Thales, the company’s main focus is in the aerospace, defense, space and transportation sectors. However, it also has a security technology business, providing systems for airports as well as cryptographic security for data.
Read the Full Release Here: Thales and Gemalto to Create a World Leads in Digital Security