French conglomerate Thales on Tuesday announced it has completed the acquisition of Gemalto, a global leader in digital identification and data protection, for 4.8 billion euros.
The acquisition announced 15 months ago creates a global leader in digital identity and security employing 80,000 people, the company said in a statement.
"With Gemalto, Thales has acquired a set of highly complementary technologies and competencies with applications in all of our five vertical markets - aerospace, space, ground transportation, digital identity and security, and defence and security," said Patrice Caine, Chairman and CEO, Thales.
The acquisition will strengthen the company's presence in India, increasing the employee strength from 400 to 1,150.
The acquisition increases Thales's revenues to 19 billion euros and self-funded R&D to 1 billion euros a year -- with 80,000 employees in 68 countries.
Thales will provide a seamless response to customers, including critical infrastructure providers such as banks, telecom operators, government agencies, utilities and other industries.
Following the acquisition, Gemalto will form one of Thales's seven global divisions, to be named Digital Identity and Security (DIS).
"Together, we are creating a giant in digital identity and security with the capabilities to compete in the big leagues worldwide," Caine added.
Thales is headquartered in New Delhi and has other operational offices and sites across Noida, Gurgaon, Hyderabad, Bengaluru, Chennai and Mumbai, among others.
--IANS
na/bc
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