Thales Acquires Vormetric
On March 17 2016, Thales announced it had completed the acquisition of Vormetric for approximately 375 million euros. The agreement had been initially announced in October 2015. The deal will see Vormetric folded into the Thales e-Security business line, with the defense contractor hoping to significantly enhance its cybersecurity activities, notably around data protection. Since inception in 2001, Vormetric has raised $45M in four rounds from JK&B Capital, QTV Capital, Quicksilver Ventures, Sigma Partners, Split Rock Partners, and Vanguard Ventures. The firm has been doing extremely well, reporting in June 2015 a 42%YoY growth for that fiscal year (ending April 2015). The revenue increase was a result of cloud and SaaS expansion on the product range but also due to more partnerships with technology companies and expanded channel sales operations. Revenue for Vormetric’s last fiscal year is estimated to have hit $75 million.
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