Thales to Create a World-class Global Cybersecurity Leader, Acquiring US-based Cyber Champion Imperva from Thoma Bravo>
Business Wire
NEW YORK, July 25, 2023 /PRNewswire/ — Today, Gem Security, the industry leader in cloud detection and response, announced a strategic investment from Silicon Valley CISO Investments (SVCI). One of the most highly regarded investment collectives in technology today, SVCI is an investment syndicate comprised of the world’s leading Chief Information Security Officers (CISOs). Gem Security’s industry-leading platform automates Cloud Detection and Response (CDR). Gem gives security operations teams a turn-key solution to detect threats, investigate alerts, and contain attacks in the cloud in real-time. Gem’s solution analyzes data from infrastructure-as-a-service (IaaS) platform telemetry and APIs, as well as third-party integrations like identity providers and ticketing systems. When Gem detects an attack, it fuses information from all cloud data sources to automate the construction of threat timelines and visualizations, immediately providing full context on every user, machine, or other cloud entity involved in the incident. With this acquisition, Thales is taking its cybersecurity business to the next level. Imperva will enable growth in data security and Thalesâ entry into the attractive application security market. Thales total cybersecurity business will generate more than ⬠2.4 billion revenues2. 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 ROCE3 above WACC in Year 5 post-closing Impervaâs integration into Thales will significantly expand Thalesâ addressable market in an already fast-growing sector. The new financial targets set for Thalesâ 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 Thalesâ 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.
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