The deal, which was unanimously supported by Tesserent’s directors, is still pending approval from the Foreign Investment Review Board and its shares are expected to be suspended from trading on the ASX on September 25.
Tesserent chief executive Kurt Hansen said the board considered the offer represented the best path forward for shareholders, employees and the ongoing provision of reliable cybersecurity services to its expansive customer base.
“This transaction will accelerate our three-year growth plan as the combination of Tesserent and Thales Australia will provide rapid scale and advanced services to address cybersecurity needs in Australia and New Zealand, including in the government, defence and commercial sectors,” Mr Hansen said.
The offer followed six months of courting and will allow Thales to expand its cybersecurity services, adding 500 Tesserent employees, 200 of whom are consultants based in Canberra.
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