French Thales Group acquires two cybersecurity startup companies S21sec and Excellium for $125 million
France’s Thales Group announced Tuesday it had struck a deal with Sonae Investment Management to acquire its two cybersecurity startup companies, S21sec and Excellium for a total of 120 million euros ($125.32 million).
Thales said the acquisition will enable the company to expand its European cybersecurity footprint, building on the two companies’ strong history of innovation and leadership in cybersecurity. The deal is also an important step forward for Thales in the highly dynamic market for cybersecurity consulting and managed services, which anticipates significant growth between 2020 and 2025.
Thales is currently Europe’s largest arms electronics provider. The company also makes civil aircraft parts and digital security systems, added in a statement that those two companies together generated sales of 59 million euros in 2021 with a staff of 546 employees.
In a post on Twitter, Thales said:
“We are excited to announce that @thalesgroup signed an agreement with @SonaeIM to acquire Maxive Cybersecurity, the holding company that consolidates two of Europe’s leading MSSP cybersecurity companies, S21sec and @ExcelliumSA.”
We are excited to announce that @thalesgroup signed an agreement with @SonaeIM to acquire Maxive Cybersecurity, the holding company that consolidates two of Europe’s leading MSSP cybersecurity companies, S21sec and @ExcelliumSA read the full article here https://t.co/WY1UHIbq1d pic.twitter.com/uNBHBN9akg
— S21sec (@S21sec) May 17, 2022
In a statement, Marc Darmon, EVP Thales, Secure Communications & Information Systems, said: “After the successful acquisitions of Vormetric in 2016 and Gemalto in 2019 that represented a step-change in Thales’ data security and encryption expertise, the acquisition of S21sec and Excellium consolidates our leadership in cybersecurity consulting and managed services.”
“The acquisition (…) is an important step forward for Thales in the highly dynamic market for cybersecurity consulting and managed services, which anticipates significant growth between 2020 and 2025,” Thales said in the statement.
Founded in 2000 by Igor Unanue, S21sec offers various security-related services (e.g. protection of critical infrastructures and personal data protection) and software (e.g. information security management systems). The company is focused on providing security for governs, energy and critical infrastructures, finance institutions, and telco industries.
S21sec has a CERT section, a 24-hour security intelligence center, and a CyberCrime one, where it collaborates with governments and governmental institutions like Europol and the FBI. S21Sec also works with its clients globally to enable their business transformation by managing their cybersecurity risks and protecting our client’s people and assets.
Maxive Cybersecurity is a cyber security pure-player with 546 specialists providing services for more than 600 customers in Iberia and Benelux. Maxive leverages a rich heritage of innovation, via the market-leading cyber security brands S21sec in Iberia and Excellium in the Benelux, which combined drive the development of solutions to the world’s toughest cyber security challenges.
Sonae IM is the technology investment arm of the multinational Sonae Group. With 50 direct investments and growing, it encompasses stakes in companies on a global scale, from early to growth stages, and in strategic business areas such as cybersecurity, digital infrastructure, and retail technology.
The transaction is subject to regulatory approvals and other customary closing conditions and is expected to be completed during the second half of 2022.