Thales signs an agreement with Sonae Investment Management to acquire S21sec and Excellium, thus strengthening its cybersecurity activities


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  • S21sec and Excellium are two major players in cybersecurity consulting, integration and managed services in Europe
  • With this acquisition, Thales accelerates its cybersecurity development roadmap and expands its presence in Spain, Portugal, Luxembourg and Belgium
  • S21sec and Excellium employ 546 people and achieved a turnover of 59 million euros in 2021.

PARIS LA DÉFENSE — Thales (Euronext Paris: HO) today announces the signature of a definitive agreement with Sonae Investment Management to acquire two of the European leaders in cybersecurity, S21sec and Excelliumgrouped under the Maxive Cybersecurity holding company.

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This acquisition will complement Thales cybersecurity portfoliostrengthening its incident detection and response services (Security Operations Center – SOC) as well as its consulting, auditing and integration services.

It will bring extensive industry expertise and a strong and diverse customer base of industrial enterprises and critical infrastructure providers, including in financial services, government and utilities, which accounted for more than 50% of its revenue. in 2021.

With 75% of the workforce spread over 9 sites in Spain and Portugal, and 25% in Luxembourg and Belgium, it is also significantly expand Thales’s European footprint in cybersecuritybuilding on companies’ strong history of cybersecurity innovation and leadership.

With 546 employees, S21sec and Excellium companies generated together 59 million euros in turnover in 2021.

The acquisition, with an enterprise value of 120 million euros, is an important step for Thales in the very dynamic cybersecurity consulting and managed services market, which anticipates significant growth between 2020 and 2025.

As a global leader in cybersecurity, Thales is involved at all levels of the cyber value chain, offering solutions ranging from risk assessment to critical infrastructure protection, backed by comprehensive threat detection and response capabilities. Its offer revolves around three families of products and serviceswhich generated more than €1 billion in turnover in 2021:

  • Cybels Solution Portfolioa comprehensive suite of cybersecurity services including risk assessment, training and simulation, and detection and response to cyberattacks
  • Sovereign products including encryptors and sensors to protect critical information systems
  • CipherTrust data security platform, Safenet Trusted Access Identity & Access Management as a Service, and broader cloud protection and licensing offerings

In 2022, Thales plans to hire 11,000 people worldwideincluding 1,000 in cybersecurity.

The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in the second half of 2022.

“Following the successful acquisitions of Vormetric in 2016 and Gemalto in 2019 which represented a step change in Thales’s expertise in data security and encryption, the acquisition of S21sec and Excellium consolidates our leadership in consulting and cybersecurity managed services. We are delighted to welcome the S21sec and Excellium expert teams to our growing cybersecurity teams. Together, we will be able to provide ever more efficient solutions to our customers.” Marc Darmon, EVP Thales, Secure Communications and Information Systems

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“As majority shareholder of the company, we have helped Maxive Cybersecurity more than triple its annual revenue, building on its history of innovation and specialization and helping it become one of the leading MSSP companies in Europe. The acquisition by Thales is recognition of this exceptional work carried out by the entire team and the logical continuation of Maxive’s journey. We are confident that this will be a great opportunity to further develop Maxive’s business and people. » Carlos Alberto Silva, Managing Partner at Sonae Investment Management.

About Thales

Thales (Euronext Paris: HO) is a world leader in advanced technologies, investing in digital and “deep tech” innovations – connectivity, big data, artificial intelligence, cybersecurity and quantum technologies – to build a confident future crucial for the development of our societies. The Group offers its customers – companies, organizations and administrations – in the fields of defence, aeronautics, space, transport, identity and digital security solutions, services and products that help them to fulfill their critical role, with respect for the individual being the driving force behind all decisions.

Thales has 81,000 employees in 68 countries. In 2021, the Group achieved a turnover of 16.2 billion euros.


Thales Group

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Cedric Leurquin
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Alice Pruvot
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