Thales S.A.Thales acquires controlling stake in Exail, expanding its underwater drone capabilities and positioning for a growing anti-submarine warfare market.
Thales, Europe's largest defence technology group, has announced it has signed an agreement to acquire a controlling stake in underwater drone technology company Exail. Thales has agreed to purchase 35.51% of Exail shares held by the Gorgé family at 134 euros per share, and plans to subsequently launch a tender offer for the remaining shares with the aim of taking full ownership. This offer exceeds the 128.5 euros per share proposed by Safran, giving Exail an enterprise value of 3.9 billion euros. Thales and Exail expect the addressable market in anti-submarine warfare to grow nearly tenfold, from 85 billion euros in 2025 to over 700 billion euros by 2030. The transaction is expected to close in the third quarter of 2027, subject to regulatory approvals.
Thales S.A.Thales acquires controlling stake in Exail, expanding its underwater drone capabilities and positioning for a growing anti-submarine warfare market.
Safran SASafran's previous bid of 128.5 euros per share was exceeded by Thales's offer of 134 euros, losing the acquisition target.