Thales has announced that it has signed an agreement to acquire data protection company Vormetric

Thales has announced that it has signed a definitive agreement to acquire Vormetric, a leading provider of data protection solutions in physical, virtual and cloud infrastructures, for US$400m. The transaction is subject to customary closing conditions and expected to close during the first quarter of 2016.

"The acquisition of Vormetric is a great opportunity to accelerate the growth of our cybersecurity activities. 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."

Patrice Caine, Chairman & CEO of Thales.

Leveraging a range of data-centric security technologies, Vormetric provides efficient sensitive data protection. This combines perfectly with Thales e-Security activities, which already hold a leading position in hardware security modules (HSMs), protecting critical networks and data of 19 of the 20 largest banks in the world and leading technology companies.

When the acquisition is completed, Thales will further extend its cybersecurity capabilities and offer its customers a comprehensive data protection suite of solutions for protecting enterprises against cybersecurity threats at the highest levels of assurance.

This strategic move complements Thales's market leading cybersecurity activities, and further strengthens the Group's overall profitable growth strategy.

Headquartered in San Jose, California, Vormetric is the industry leader in data security solutions that protect data-at-rest across physical, big data and cloud environments. With a workforce of 200 employees, Vormetric helps over 1,500 enterprises, including 17 of the US top 30 companies, to protect their sensitive data from both internal and external threats. The company's scalable Vormetric Data Security Platform protects any file, any database and any application's data — anywhere it resides — with a high performance, market-leading solution set. The company revenues are on pace to reach US$75 million for the current fiscal year.

Thales e-Security is a leading global provider of trusted cryptographic solutions with a 40-year track record of protecting the world's most sensitive applications and information. Thales solutions enhance privacy, trusted identities, and secure payments with certified, high performance encryption and digital signature technology for customers in a wide range markets including financial services, high technology, manufacturing, and government. Thales e-Security has a worldwide support capability, with 540 employees in the United States, United Kingdom, and Hong Kong.

"The opportunity to join Thales has come at a time when the world is focused on data to enable business due to the explosive growth of mobile, cloud and social media. Jointly we are in a unique position to offer leading security solutions to protect data, while broadening the support to our customers and partners globally."

Alan Kessler, President & CEO of Vormetric.

- See more at: https://www.thalesgroup.com/en/critical-information-systems-and-cybersecurity/news/press-release/thales-create-global-leader-data#sthash.Rrm2ORUm.dpuf