Thales takes over Gemalto for $5.4bn

PARIS: French aerospace and defense electronics group Thales said it had completed its previously announced $5.4 billion takeover of chipmaker Gemalto, boosting Thales’ presence in the booming security services market. Thales had to clear various regulatory hurdles before finally completing the deal, and the company reiterated that buying Gemalto would increase its overall revenues and lift its presence in Latin America, north America and Asia. “Together, we are creating a giant in digital identity and security with the capabilities to compete in the big leagues worldwide,” said Thales CEO Patrice Caine in a statement on Tuesday. — Reuters