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Thales' Gemalto acquisition receives regulatory clearance in Canada

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Thales' Gemalto acquisition receives regulatory clearance in Canada

French aerospace and defense group Thales SA's proposed acquisition of Dutch digital security company Gemalto NV has received foreign investment regulatory clearance in Canada, the two companies said Aug. 14.

The pending merger has now obtained four out of the required 14 regulatory clearances. Thales and Gemalto said they are working with antitrust authorities to obtain the remaining regulatory clearances in Australia, the EU, Mexico, New Zealand, Russia, South Africa, Turkey and the U.S. Additionally, the two companies are seeking approval from the Committee on Foreign Investment in the U.S. and regulatory clearance relating to foreign investments from the competent authority in Russia.

The transaction is expected to close before the end of 2018, shortly after all regulatory clearances haven been obtained.