Update on the offer by Thales for Gemalto

By | October 11, 2018

11 October 2018 – Paris La Défense – Reference is made to the joint press release by Thales (Euronext Paris: HO) and Gemalto (Euronext Amsterdam and Paris: GTO) dated 27 March 2018 in relation to the launch of the recommended all-cash offer by Thales for all the issued and outstanding shares of Gemalto (the “Offer”), the publication of the Offer Document, and the joint press release of Thales and Gemalto dated 10 August 2018 in relation to the further extension of the Acceptance Period. Terms not defined in this press release will have the meaning as set forth in the Offer Document.

The contemplated combination is progressing satisfactorily: 6 of the required 14 regulatory clearances have already been obtained, and the steps to obtain the remaining eight[1] are well advanced.

Thales and Gemalto are discussing with certain antitrust authorities on remedy proposals to address their concerns with respect to the General Purpose Hardware Security Modules (GP HSM) market.

As a consequence, Thales and Gemalto now expect to close the offer in the first quarter of 2019.

Thales and Gemalto continue to hold constructive discussions with the various regulatory authorities involved.  

[1] Thales and Gemalto are seeking to secure antitrust approvals in Australia, the European Union, Mexico, New-Zealand, Russia, South Africa and the United States. Thales and Gemalto are also seeking to secure regulatory approval relating to foreign investments from the competent authority in Russia.