Barely a week after declining to take up a £3.8bn from Atossa Genetics Inc (NASDAQ:ATOS), the Dutch security and chip manufacturer Gemalto has signed an acquisition deal with French defence group Thales. The deal is valued at £4.2bn.
In an earlier offer, Atos had showed interest to acquire Gemalto at the rate of €51.0 per share. Thales, which was recently featured on the The Reg as producers of some of the crash-happy drones made a joint news statement to announce the acquisition deal. In his own words, the company’s CEO Patrice Caine the acquisition of Gemalto is an important milestone towards the implementation of Thales’s strategy. He added that by combining two talents from the two companies, Gemalto and Thales will create a leader in digital security globally.
On the other hand, Philippe Vallée, the CEO of Gemalto safely taking the company through a year characterized by poor sales, said the combination of the two companies is the most promising option for Gemalto.
After rejecting last week’s offer, Atos indicated that it was moving ahead with the proposed agreement despite the fact that Gemalto was not in favor of the whole deal. Gemalto maintains that their offer was very attractive.
In a statement, Atos said it wishes the Gemalto- Thales union as well as their employees the best of luck and indicated it will still be available to negotiate a union with Gemalto in the event that the deal with Thales doest come to material.
This is seen as a turn of heart considering the fact that Gemalto were seen as opportunistic after rejecting the deal with Atos. Gemalto went ahead and termed Atos as an undervalued company.
Atos is a leading digital transformer globally and has a workforce of around 100,000 employees spread out in 72 countries. The company’s annual revenue stands at€ 13 billion. The company is the leading producer of High Performance Computing and Digital Workplace, Cybersecurity and Big Data. The company provides Business & Platform, Infrastructure & Data Management and Cloud services