Thales Divests Noncore Operations

The international electronics and systems group Thales has sold its Thales High Tech Optics activities in the UK, the US, Singapore, Germany and Hungary to Candover, for approximately $264 million in cash. Candover, a private equity firm with offices in London and other European cities, will work with the management to identify acquisition and expansion opportunities. Regarded as nonstrategic for Thales, the businesses, which have a large customer base, supply precision optical components and modules for military and civil applications.

Through the divestment, Thales intends to strengthen its position as a large-systems integrator and as an equipment and services provider in defense and security.