Sonae MI sells cybersecurity ‘holding’ to Thales Europe

Sonaecom, through its subsidiary Sonae IM, has sold its total capital share and voting rights in Maxive – Cybersecurity which controls S21sec and Excellium to Thales Europe.

According to a communiqué released by the Portuguese stock market commission (CMVM), the transaction has a subjacent target enterprise value (EV) of €120 million, with Sonaecom estimating that the agreement will have a positive impact on its results of around €63 million.
“These sums may vary according to the effective date of the transaction, and the respective financial performance of Maxive and its subsidiaries at the time”, states the note.
The completion of the transaction now depends on the usual due diligence, including regulatory approval which should be completed by 30 November, 2022.
Maxive is a holding that controls two companies in the cybersecurity area, S21sec and Excellium.