Shareholders of Dutch digital security firm Gemalto have accepted the acquisition offer made by French aerospace and defense group Thales,Verdict has reported.
In a joint statement, the companies said that t 85.58% of shares have been tendered before the deadline of 28 March.
Gemalto operations have been consolidated into Thales’ effective today.
Payment of the share offer will go out on 2 April, while the post-closing acceptance period will conclude on 15 April, the joint statement read.
Thales CEO Patrice Caine said: “The integration of Gemalto marks the start of a bold new chapter in the history of Thales.
“Together, Thales and Gemalto will have the ability to cover the digital needs of all clients, in civilian and defence businesses, across all Thales market segments, with a unique portfolio of advanced technologies in the fields of digital security and the Internet of Things.”
Thales announced the $5.4bn deal to acquire Gemalto in December 2017.
Thales was forced to push back its deadline for the acceptance period after the European Commission initiated an antitrust probe into the proposed merger in July last year.
However, the deal was cleared by the EU antitrust body in December 2018.
The transaction is estimated to add more than €3bn revenue to Thales’ business sales.
Gemalto offers secure transaction solutions to banks such as EMV chip cards and payment terminals. It also provides user authentication systems for online banking, including one-time token generating hardware devices for 2FA.