Thales to Acquire Data Protection Firm Vormetric

Thales announced that it has signed a definitive agreement to acquire San Jose-based Vormetric, a provider of data protection solutions for $400M.  According to the press release, "Vormetric is the industry leader in data security solutions that protect data-at-rest across physical, big data and cloud environments. With a workforce of 200 employees, Vormetric helps over 1,500 enterprises, including 17 of the US top 30 companies, to protect their sensitive data from both internal and external threats. The company’s scalable Vormetric Data Security Platform protects any file, any database and any application’s data — anywhere it resides — with a high performance, market-leading solution set."

Investors in Vormetric include JK&B Capital, QTV Capital,  Quicksilver Ventures, Sigma Partners, Split Rock Partners, and Vanguard Ventures.  

The company's revenue is projected to reach $75M for the current fiscal year which implies a revenue multiple of 4x revenue.  The deal is expected to close during the first quarter of 2016.