Thales completes acquisition of Gemalto and announces new targets in 2019



[ad_1]

PARIS – Industrial and defense electronics group Thales said on Tuesday it has finalized the acquisition of Gemato, provider of smart cards and security and digital authentication solutions. would communicate before t of the goals for 2019 for the new set.

Announcement in December 2017, the acquisition of Gemalto by Thales for approximately 4.8 billion euros took almost a year and a half to complete. With this acquisition, Thales makes 19 billion euros a year, has 80,000 employees and R & D self-financed in 1 billion euros, against 879 million euros only for Thales in 2018.

"We're likely to, before the summer, give the market a view for 2019" and provide targets for the new set, Thales CEO Patrice Caine said during a conference with reporters. "Then we can show the impact of Gemalto on the group" and its financial indicators, he continued.

Last February, Thales announced that it will target, excluding the integration of Gemalto, organic growth of 34% for 2019 and operating profit (EBIT) between 1.78 and 1.8 billion euros.

Detailed income synergies after summer

Patrice Caine said that Thales "retained" the range of cost synergies communicated so far, ie € 100 150 million by 2022, three years after the date of completion of the acquisition. For revenue synergies, the CEO explained that Thales would return "after the summer" to investors to sell them.

The manager explained that these revenue synergies were articulated around multiple axes, including & # 39; cross-selling & # 39; – & # 39; cross-sales & # 39; – or "upselling", meaning making "even more value propositions". rich "technology thanks to a more complete technology portfolio." Patrice Caine exemplified airborne drone control, where Gemalto's identification technologies enhance Thales' abilities in airborne control.

More generally, Gemalto will give Thales "a considerable power of prominence" in R & D, according to Patrice Caine, bringing to the group skills "we could not develop for ourselves," especially in digital identity. Gemalto will also enable the group to become a world leader in the field of data protection, an activity or "is in real value" and "growing strongly," explained the CEO.

The acquisition of Gemalto will also enable Thales to strengthen its presence internationally, increasing its workforce by four in Latin America and three in North Asia, Southeast Asia and India.

-Julien Marion, Agefi-Dow Jones; +33 (0) 1 41 27 47 94; [email protected] ed: VLV

Agefi-Dow Jones The Financial Bulletin

[ad_2]

Source link