“The publication of the offer document is the first major step of the proposed acquisition of Gemalto,” Patrice Caine, Thales chairman and CEO, said in a statement published Tuesday.
Thales agreed to acquire Gemalto in December in a bid to establish a new business unit that will maintain the latter company’s brand and deliver digital security and cybersecurity services to government and commercial customers.
Gemalto CEO Philippe Vallee will oversee the proposed digital security business that will operate as one of Thales’ seven global business units with over 28,000 engineers and 3,000 researchers.
The proposed acquisition would provide Thales access to Gemalto’s portfolio of security software, multifactor authentication and biometrics platforms with potential applications across defense, aeronautics, ground transportation, space and security markets.
Gemalto’s board has unanimously recommended that its shareholders support the offer and will hold an annual general meeting on May 18 to discuss the offer.
The acceptance period for the offer will start Wednesday, March 28, and will run through June 6.