Thales to create a world-class global cybersecurity leader, acquiring US-based cyber champion Imperva

From Thoma Bravo. Thales (Euronext Paris: HO) announces that it has reached an agreement with Thoma Bravo, a major software investment firm, for the acquisition of 100% of Imperva, a leading US-based data and application cybersecurity company, for an enterprise value of $3.6 billion. With this acquisition, Thales is taking its cybersecurity business to the next level. Imperva will enable growth in data security and Thales’ entry into the attractive application security market. Thales total cybersecurity business will generate more than € 2.4 billion revenues. The transaction price is based on a $3.6 billion enterprise value1. Significant value creation for Thales shareholders: $110 million of run rate cost and revenue synergies Financial profile of DIS segment enhanced Significant medium-term adjusted EPS accretion Transaction adjusted ROCE above WACC in Year 5 post-closing Imperva’s integration into Thales will significantly expand Thales’ addressable market in an already fast-growing sector. The new financial targets set for Thales’ Digital Identity and Security (DIS) activity are: 2024-2027 organic sales growth: +6 to +7%, 2027 EBIT3 margin to reach 16.5%. The acquisition is in line with Thales’ disciplined capital deployment framework, with no impact on the Group existing dividend policy or ongoing share buyback programme. Closing of the transaction is expected by the beginning of 2024, upon completion of customary anti-trust and regulatory approvals.