Thales is buying a 35% stake in maritime drone experts Exail and plans to acquire the whole company in a deal valued at €3.9 billion.
The French defence giant on Monday announced it had signed a binding agreement with the Gorgé family to buy their combined 35.51% stake in Exail Technologies at a price of €134 per share. It said it later plans to acquire the rest of the firm via a mandatory public tender offer at the same per-share value.
Thales said the acquisition would enable the two firms to combine and accelerate their development of quantum sensing technology.
A Thales press statement noted: “With this acquisition, Thales aims to increase its position in the underwater warfare market and expand its capabilities in inertial navigation systems thanks to Exail’s complementary expertise.”
It said it expected to complete the deal for the initial 35.51% stake by the third quarter of 2027, subject to regulatory approval, and added: “This proposed merger between Thales and Exail was unanimously and favorably received by Exail’s board of directors.”
Chairman and CEO of Thales Patrice Caine, Chairman and CEO of Thales,commented: “Together, through our talents and capabilities, we will strengthen our high-tech industrial base and the innovations we develop for our world-class civil and military customers, while reinforcing Europe’s technological sovereignty.”
Chairman and CEO of Exail Raphaël Gorgé added: “Under the leadership of Gorgé SA, the 2022 merger of ECA Group and iXblue resulted in the creation of Exail, a French technology champion specializing in maritime robotics and navigation systems.
“Since then, Exail’s technological development and growth have been exceptional. By joining Thales, Exail and its teams will benefit from an enhanced capacity to develop leading sovereign and dual-use technologies for a growing global customer base.”
Exail, based in Paris, France, develops dual-use technologies for civilian and military clients in more than 80 countries. Its Maritime Navigation and Robotics sector develops inertial navigation systems for use in naval, land, and space domains.
It has also developed a comprehensive range of uncrewed surface vessels (USVs); uncrewed underwater vehicles (UUVs) and remotely operated vehicles (ROVs) which it designs, builds, and equips. Its systems are widely used in military applications, particularly the field of mine countermeasures (MCM)
Its flagship robotics solution is the UMIS system, a fully autonomous, next-generation MCM drone system and it is also developing its DriX range of USVs.
- You can read more details on the Thales website