French firm Thales says it has reached an agreement to buy US-based data and application cybersecurity company Imperva from software investment firm Thoma Bravo for an 'enterprise value' of $3.6 billion.
The Paris-based firm says it is 'taking its cybersecurity business to the next level'. The acquisition of Imperva 'will enable growth in data security and Thales’ entry into the attractive application security market'. Expected revenues from the cybersecurity business will exceed €2.4 billion.
"With this acquisition, we are seizing a unique opportunity to accelerate our cybersecurity capabilities and are taking an important step towards our ambition to build a world-class global cybersecurity integrated player, providing a comprehensive portfolio of products and services," says Patrice Caine, Chairman and Chief Executive Officer, Thales. "We have tremendous respect for Imperva’s innovative application and data security offerings. Imperva and Thales share the same vision and the same DNA. We are thrilled to enter the next phase of our growth together. We look forward to welcoming Imperva to Thales to further enhance our cybersecurity solutions, and help customers address their most important digital security challenges.”
As its next stage of growth, the firm has set the targets for Thales’ Digital Identity and Security (DIS) of organic sales growth: +6 to +7% from 2024-2027 and EBIT margin to reach 16.5% by 2027.
“Today’s announcement represents an exciting new chapter for Imperva, one that will further our mission to help organisations protect data and all paths to it, bring better protection and strategic value to our customers and partners, and create more opportunities for our team members," says Pam Murphy, Chief Executive Officer, Imperva. "We admire Thales’ vision and culture, and believe that, together, we can deliver greater product innovation and efficiency through disruptive solutions, while helping to simplify the greatest security challenges facing organisations today: protecting digital identities, applications, APIs, and data in any environment, and any industry.”