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PARIS, July 25 (Reuters) - France's Thales (TCFP.PA) said on Tuesday it would buy U.S. cybersecurity company Imperva in a deal worth $3.6 billion as it steps up expansion away from its historic defence business to the war against hacking. "This really changes our scale in civil cybersecurity," Thales Chief Executive Patrice Caine told analysts, adding that the deal represented a rare opportunity to become a premium player on a global scale in cybersecurity. Thales said the price of the deal implied an enterprise value of 17 times 2024 operating earnings. Thales said buying Imperva would generate around $110 million of pretax synergies, including $50 million of cost savings and $60 million linked to revenue opportunities. Thales said the deal would close in 2024 subject to approvals, and did not anticipate significant hurdles.

Persons: Thoma, Patrice Caine, Thales, Jefferies, Chloe Lemarie, Caine, Morgan Stanley, Sudip Kar, Muralikumar Anantharaman, Kim Coghill, Bernadette Baum Organizations: Thales, Thoma Bravo, PwC, Cobham Aerospace Communications, Thomson Locations: cybersecurity, France, Paris, Europe

The pan-European STOXX 600 index (.STOXX) closed 1.5% higher, extending gains to the fourth straight day. U.S. consumer prices advanced 3.0% in June - their smallest year-on-year increase since March 2021 - after 4% growth in May. Gains in the lenders lifted UK's FTSE 100 index (.FTSE) by 1.8%, leading gains among European peers and pushing the European banks index (.SX7P) up 1.9%. European shares have performed better than UK stocks so far this year, amid economic resilience and signs of cooling inflation in the euro zone, with focus now shifting to the upcoming earnings season. Data showed Spanish national consumer prices rose 1.9% in the 12 months through June, down from a 3.2% rise in the period through May.

Persons: Daniel Casali, Evelyn, Jefferies, Vincent Chaigneau, Matteo Allievi, Shreyashi Sanyal, Sohini Goswami, Nick Zieminski Organizations: U.S, Jefferies, Federal, Evelyn Partners, Lloyds, Barclays, HSBC, Bank of England, Miners, ASM International, Infineon, Generali Investments, Air France, KLM, Deutsche Bank, Thales, Cobham Aerospace Communications, Spanish, Thomson Locations: United States, U.S, Gdansk, Amruta, Bangalore

☆ France's Thales to acquire Cobham Aerospace Communications for $1.1 bln
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Thales Group is seen during a visit at the Thales radar factory in Limours, France, February 1, 2023. REUTERS/Gonzalo FuentesJuly 12 (Reuters) - French defence and technology group Thales (TCFP.PA) said on Wednesday it started talks to buy French supplier Cobham Aerospace Communications for $1.1 billion. Thales said that with the acquisition it aims to strengthen its portfolio in avionics - the complex electronic systems used on aircraft. Cobham Aerospace Communications is a leading supplier of advanced cockpit communication systems and it is expected to generate about $200 million in revenue in 2023, Thales said. The transaction is expected to generate medium-term double-digit growth per annum for Thales and to have accretive impact on its margins.

Persons: Gonzalo Fuentes, Thales, Yannick Assouad, Michal Aleksandrowicz, Jacqueline Wong, Jason Neely Organizations: Thales Group, Thales, REUTERS, Cobham Aerospace Communications, Avionics, Jefferies, Thomson Locations: Limours, France, Paris, Gdansk

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