Home / M&A Activity / Thales to Buy Data Security Firm Vormetric for $400M; Patrice Caine Comments

Thales to Buy Data Security Firm Vormetric for $400M; Patrice Caine Comments

Patrice Caine
Patrice Caine

Thales has agreed to purchase San Jose, California-based security firm Vormetric for approximately $400 million as the companies seek to further their enterprise data protection initiatives.

The transaction is subject to customary closing terms and is scheduled to close in the first quarter of 2016, Thales said Monday.

Patrice Caine, CEO of Thales, said the company aims to combine its information technology systems protection technology and Vormetric’s data security expertise into a single enterprise cybersecurity portfolio.

Vormetric designed its platform to help organizations protect databases, files and applications in physical and cloud computing networks.

France-based Thales believes Vormetric’s platform will complement Thales subsidiary e-Security‘s efforts to protect information and networks of clients in the financial services and technology sectors.

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