April 2, 2019 / 5:05 AM / 3 months ago

French group Thales completes 4.8 billion euro takeover of Gemalto

The logo of French defence and electronics group Thales is seen at the company's headquarters in Merignac near Bordeaux, France, March 22, 2019. REUTERS/Regis Duvignau

PARIS (Reuters) - French aerospace and defense electronics group Thales said it had completed its previously announced 4.8 billion euros ($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 Chairman and Chief Executive Patrice Caine in a statement on Tuesday.

Reporting by Jean-Michel Belot; Editing by Sudip Kar-Gupta

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