The US Justice Department said on Thursday it was requiring Thales to divest its general purpose hardware security module business in order for Thales to proceed with its proposed acquisition of Gemalto.
French defense electronics maker Thales and Netherlands-based chipmaker Gemalto are the world’s leading providers of GP HSMs, which generate keys and encrypts data, and are significant direct competitors in the United States, the Justice Department said in a statement.
Thales, Europe’s largest defense electronics group whose largest shareholder is the French state, announced the $5.4 billion deal in December 2017. The company is seeking to boost its presence in the booming security services market, which includes encryption and biometric passports.
Full Content: Reuters
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