Thales, a French multi-national company, has signed a definitive agreement to acquire Vormetric, a provider of data protection solutions in physical, virtual and cloud infrastructures, for $400 million. The transaction is expected to close in the first quarter of 2016.
Vormetric provides data protection solutions, which the companies say, meshes well with Thales e-Security’s position in the market with hardware security modules (HSMs), protecting critical networks and data of 19 of the 20 largest banks in the world, and leading technology companies. Thales e-Security is a provider of trusted cryptographic solutions with a 40-year track record of protecting the world’s most sensitive applications and information.
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 cybersecurity activities, and further strengthens the Thales’ overall profitable growth strategy, the company said.
Headquartered in San Jose, California, Vormetric provides data security solutions that protect data-at-rest across physical, big data and cloud environments.
“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,” said Alan Kessler, president and CEO of Vormetric. “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.”