March 1, 2019 / 1:02 AM / a year ago

U.S. approves Thales takeover of Gemalto with condition

WASHINGTON, Feb 28 (Reuters) - The U.S. Justice Department said on Thursday it is requiring Thales SA to divest its General Purpose Hardware Security Module (GP HAM) business in order for Thales to proceed with its proposed acquisition of Gemalto NV.

French defense electronics maker Thales and Netherlands-based chipmaker Gemalto are the world’s leading providers of GP HSMs and are significant direct competitors in the United States, the Justice Department said in a statement. Together they account for 66 percent of the U.S. market for the sale of GP HSMs, which are secure encryption processing and key management devices, it said. (Reporting by Eric Beech; Editing by Mohammad Zargham)

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