Thales Australia to Acquire Tesserent for A$176m, Creating Regional Cybersecurity Powerhouse
Thales Australia, a global leader in cyber security, has agreed to acquire Tesserent, a leading Australian cyber security firm. The deal, valued at A$176m (circa €107 million), aims to create a regional powerhouse to safeguard national infrastructure and businesses. Jeff Connolly, CEO of Thales Australia, sees this acquisition as a strategic move to establish a dominant cyber security player in Australia and New Zealand. Kurt Hansen, CEO of Tesserent, welcomes the deal, anticipating it will boost growth and benefit employees. The acquisition, subject to shareholder and court approvals, along with regulatory clearances, will see Tesserent retain its name and adopt the 'Cyber Solutions by Thales' tagline. The combined entity will serve as the lead cyber security offering of Thales Australia and New Zealand, promising double-digit growth by 2026. Thales will acquire 100% of Tesserent's shares at A$0.13 per share, with the transaction expected to be completed during the second half of 2023. The merger, advised by Eight Advisory, is set to accelerate cyber solutions growth for Thales customers in Australia and New Zealand, backed by Thales' global resources. The acquisition of Tesserent by Thales Australia, subject to approvals, is poised to create a formidable cyber security force in the region. This deal promises significant growth and enhanced protection for national infrastructure and businesses.
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