Thales Group Acquires Vormetric
By Christine Kern, contributing writer
Thales Group, parent company of Thales e-Security, has announced plans for the acquisition of data protection firm Vormetric for $400 million. Thales e-Security provides data protection solutions to the financial services, high tech manufacturing, government, and technology sectors.
The move positions Thales to offer a comprehensive data protection suite of solutions for protecting enterprises against cybersecurity threats at the highest level of assurance.
“The acquisition of Vormetric is a great opportunity to accelerate the growth of our cybersecurity activities,” explained Patrice Caine, chairman and CEO of Thales. “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.”
Vormetric currently provides services that protect data-at-rest across physical, Big Data, and cloud environments to more than 1,500 enterprises.
Thales e-Security is a provider of cryptographic solutions that enhance privacy, trusted identities, and secure payments with certified, high performance encryption and digital signature technology for customers across a wide range of markets.
The transaction is expected to close during Q1 2016, and integrating the companies could take at least 12 months, Security Week reported. Vormetric will be branded as “Vormetric, a Thales e-Security company.”