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French defence electronics and cybersecurity company Thales (OTCPK:THLEF) (OTCPK:THLLY) will buy U.S. cybersecurity company Imperva in a deal worth $3.6B on an enterprise value basis, as per a company press release.
Thales (OTCPK:THLEF) (OTCPK:THLLY) will be buying Imperva from software investor company Thoma Bravo, and the buyout will likely add $500M to revenue and expand its data and application security offerings.
The company estimates $110M of pre-tax run-rate synergies, including $50M of cost synergies and $60M linked to revenue synergies.
The transaction will be funded with a mix of cash and debt. Transaction closing is expected by the beginning of 2024.
Imperva is headquartered in San Mateo, California, the company has a global footprint in the Americas, Asia Pacific and Europe-Middle East and Africa, and monitors threats across 180 countries. The acquisition will help Thales (OTCPK:THLEF) expand its addressable market.
Patrice Caine, Chairman and CEO of Thales comments, “With this acquisition, we are seizing a unique opportunity to accelerate our cybersecurity capabilities..” He added, “Imperva and Thales share the same vision and the same DNA. We are thrilled to enter the next phase of our growth together..”
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Image and article originally from seekingalpha.com. Read the original article here.