Our Bureau
10:59 AM, December 18, 2017
Thales Acquires European SIM Manufacturer Gemalto

Thales has bought European SIM manufacturer Gemalto bettering 46-euro share bid by another French firm Atos.

The aerospace giant paid 51 euros ($60) a share for Gemalto, a premium of 57 percent over the closing price on December 8, Thales said in a statement Sunday.

Gemalto rejected Atos bid offer on Wednesday.

The Thales offer showed that it valued the world-leading chipmaker at about 4.8 billion euros.

The deal is expected to close in the second half of 2018, but can be terminated before then if Gemalto receives a bid that is at least nine percent higher than Thales's offer price.

The new division will focus on security software, biometrics, multifactor authentication and issuing secure electronic and physical ID cards, the company said.

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