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Thales sees five percent revenue growth from Gemalto assets

Published 18/12/2017, 11:25
© Reuters. The logo of French defence and electronics group Thales is seen at the company's headquarters in Neuilly
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PARIS (Reuters) - Aerospace and defence group Thales (PA:TCFP) on Monday forecast the revenues of acquisition target Gemalto (AS:GTO) would grow 5 percent annually and said it would hold on to all the chipmaker's assets.

"Our intention is to keep all of the assets in Gemalto's portfolio," CEO Patrice Caine said in a call with analysts, suggesting that SIM card operations remained core alongside Gemalto's growing focus on cybersecurity.

Thales shares surged 8.2 percent to 93.45 euros in early trading, while Amsterdam-listed Gemalto's shareprice was 5.47 percent high at 49.38 euros, below Thales' 51 euro per share basic offer.

© Reuters. The logo of French defence and electronics group Thales is seen at the company's headquarters in Neuilly

Gemalto's board accepted Thales' bid worth 4.8 billion euros (£4.24 billion) days after rejecting a 4.3 billion euro offer from tech company Atos (PA:ATOS).

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