French aerospace, defense, and security giant Thales (Euronext Paris: HO) announced on Tuesday that it has reached an agreement with private equity firm Thoma Bravo to acquire San Mateo, California-based cybersecurity company Imperva.
Thales will buy Imperva for an enterprise value of $3.6 billion ($3.7 billion gross value minus $0.1 billion tax benefits). The transaction is expected to close by the beginning of 2024.
The company says Imperva’s integration will help it significantly expand its addressable market. Thales’ entire cybersecurity business is expected to generate over €2.4 billion ($2.65 billion) in revenue.
Imperva offers application security, data security, network security and application performance solutions. The company’s products are designed to protect applications and APIs against DDoS attacks, bots and supply chain attacks; protect sensitive data in cloud and on-premises environments; and defend networks against DDoS attacks and ensure business continuity.
The company had more than half a billion dollars in revenue (TTM) in 2022, and over 1,400 employees.
Thoma Bravo acquired Imperva in 2018 for $2.1 billion in cash.
An analysis conducted by SecurityWeek showed that there were more than 210 cybersecurity-related mergers and acquisitions in the first half of 2023, with a total disclosed deal value of $5.1 billion for 30 transactions.
Last month, Thales announced plans to acquire Australia-based full-service cybersecurity firm Tesserent for $116 million (A$176 million) to accelerate its cybersecurity development roadmap and expand its footprint in Australia and New Zealand.
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