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Thales to divest general purpose hardware security module unit

Thales SA signed a definitive agreement to sell its general purpose hardware security module business to Entrust Datacard Corp.

The disposal, which is expected to close in the second quarter of 2019, is part of efforts to resolve competition concerns regarding the Thales' planned acquisition of Dutch digital security group Gemalto NV.

The unit, which operates under the brand nCipher Security, has been a stand-alone business within Thales since January. It recorded more than €100 million in revenues in 2018 and employs more than 300 people.