Thales buys two cybersecurity firms to boost its €1 bn business

Thales announced the acquisition of two cybersecurity companies — S21sec and Excellium – for an enterprise value of €120 million from Sonae Investment Management.
Thales
This acquisition will complement Thales’ cybersecurity portfolio, strengthening its incident detection and response services (Security Operations Centre – SOC) as well as consulting, audit and integration services.

With 75 percent of staff at 9 sites in Spain and Portugal, and 25 percent in Luxembourg and Belgium, it will also materially expand Thales’s European cybersecurity footprint.

Thales’ cybersecurity generated more than €1 billion in sales in 2021. S21sec and Excellium businesses have 546 employees and generated 59 million euros in sales in 2021.

In 2022, Thales plans to hire 11,000 people worldwide, including 1,000 in cybersecurity.

Thales acquired Vormetric in 2016 and Gemalto in 2019 that represented a step change in Thales’ data security and encryption expertise.