Thales Signs an Agreement with Sonae Investment Management to Acquire S21sec and… – Press Release


  • S21sec and Excellium are two major players in cybersecurity consulting, integration and managed services in Europe
  • With this acquisition, Thales accelerates its cybersecurity development roadmap and expands its footprint in Spain, Portugal, Luxembourg and Belgium
  • S21sec and Excellium employ 546 people and generated sales of 59 million euros in 2021.

Thales HO announces today the signature of a definitive agreement with Sonae Investment Management to acquire two of European leading cybersecurity companies, S21sec and Excellium, gathered under the holding company Maxive Cybersecurity.

This acquisition will complement Thales’ cybersecurity portfolio, strengthening its incident detection and response services (Security Operations Centre – SOC) as well as consulting, audit and integration services.

It will bring an extensive industrial expertise and a solid, diversified customer base of industrial companies and critical infrastructure providers, including in the financial services, government and public services, which accounted for more than 50% of its revenue in 2021.

With 75% of staff at 9 sites in Spain and Portugal, and 25% in Luxembourg and Belgium, it will also materially expand Thales’s European cybersecurity footprint, building on the companies’ strong history of innovation and leadership in cybersecurity.

With 546 employees, S21sec and Excellium businesses together generated 59 million euros in sales in 2021.

The acquisition, for an enterprise value of 120 million euros, is an important step forward for Thales in the highly dynamic market for cybersecurity consulting and managed services, which anticipates significant growth between 2020 and 2025.

As a global leader in cybersecurity, Thales is involved at every level of the cyber value chain, offering solutions ranging from risk assessment to protection of critical infrastructure, supported by comprehensive threat detection and response capabilities. Its offer is built around three families…