Israeli cybersecurity company Imperva was purchased by French tech-giant Thales for $3.6 billion, the company said on Tuesday, although no substantial funds will flow to Israel from the sale. Thales said it had purchased 100% of the Israeli company.
Imperva was founded in 2002 to supply cybersecurity solutions to critical apps, APIs and data. In 2018, it was sold to Thoma Bravo, an American private equity firm for $2.1 billion.
In a statement posted by Thales online, Imperva saw an income of half a billion dollars in 2022 and employs 1,400 people in its headquarters in California. The company's research and development center in Israel employs 500 and is expected to grow after the purchase is completed.
"With this acquisition, Thales is taking its cybersecurity business to the next level," the company said. "Imperva will enable growth in data security and Thales’ entry into the attractive application security market. Thales total cybersecurity business will generate more than € 2.4 billion revenues," the statement posted on Thales' website read.
"Closing of the transaction is expected by the beginning of 2024, upon completion of customary anti-trust and regulatory approvals."