Gemalto has spurned overtures from Atos and instead accepted a EUR4.8 billion takeover deal from fellow French company Thales.
The €51 offer price, representing a premium of 57% over Gemalto's closing price as of 8 December 2017, bests Atos' unsolicited EUR4.3 billion offer for the ailing French company.
Philippe Vallée, Gemalto’s CEO, comments: “I am convinced that the combination with Thales is the best and the most promising option for Gemalto and the most positive outcome for our company, employees, clients, shareholders and other stakeholders. We share the same values and Gemalto will be able to pursue its strategy, accelerate its development and deliver its digital security vision, as part of Thales.”
The combined group will be a world leader in trusted identities and data security, employing more than 28,000 engineers, 3,000 researchers, and investing more than €1bn in self-funded R&D.