Thales Moves to Acquire Full Control of Exail

Thales has announced a binding agreement to acquire the Gorgé family’s 35.51% stake in Exail Technologies at €134.00 per share. This move aims to allow Thales to initiate a tender offer for all remaining shares, aligning with its strategy to enhance its presence in the underwater warfare and inertial navigation sectors.

The transaction values Exail at an enterprise value of €3.9 billion, representing a 44% premium over its share price before the acquisition rumors. Thales expects the acquisition to boost its revenue growth and Adjusted EBIT margin, estimating €90 million in synergies by 2032 and immediate accretion in earnings per share.

Regulatory approval is anticipated by Q3 2027, after which Thales will proceed with the tender offer, targeting completion by early 2028. The acquisition has received a favorable response from Exail's board and promises significant synergies in R&D and operational efficiencies.