Continuing its cybersecurity expansion strategy, Thales announces the signature of an agreement to acquire OneWelcome, a European leader in the fast growing market of Customer Identity and Access Management, for a total consideration of €100 million.
OneWelcome’s strong digital identity lifecycle management capabilities will complement Thales’s Identity services (secure credential enrollment, issuance and management, Know Your Customer) in order to offer the most comprehensive Identity Platform in the market.
What does OneWelcome bring to Thale’s portfolio?
Headquartered in the Netherlands, OneWelcome provides cloud-based customer identity and access management for highly regulated industries, empowering them to securely connect their customers, business partners, as well as other stakeholders to their online services.
OneWelcome protects tens of millions of European identities for lighthouse clients like Malakoff Humanis, PostNL and the European Central Bank. Thales plans to leverage this expertise to address the global need for enhanced identity and data privacy management.
OneWelcome business will address the increasing need for secure access, and data privacy, which is essential in regulated markets, subject to GDPR compliance for instance. To be noted that one of the key OneWelcome’s expertise is to grant users a greater control of their data, across any platform or app as it helps manage their passwords and consent preferences.
With this acquisition, Thales will offer a comprehensive Identity Platform that will allow organisations of all sizes to manage internal and external identities, enabling them to bring new businesses online fast, improving operational efficiency and customer experience along the way, while meeting or exceeding regulatory compliance. With 100+ employees and customers across Europe, OneWelcome is experiencing strong growth of over 30% YoY.
OneWelcome will join Thales Digital Identity and Security global business unit. Gartner predicts that by 20232, 72% of organisations will be rolling out a CIAM initiative, versus 40% in 2020.
What were the executives’ thoughts on the acquisition?
Commenting on the acquisition, Philippe Vallée, Executive Vice-President, Digital Identity and Security at Thales said: “The acquisition of OneWelcome is fully aligned with our expansion strategy within the cybersecurity space. OneWelcome’s talents and expertise in customer identity and access management complements and strengthens our authentication and data privacy portfolio as well as our plan to provide a trusted and frictionless digital experience.”
“Nowadays, as we see a rapid increase in amount of data, cloud migrations, and new compliance mandates, it’s essential to offer secure, adaptive and convenient solutions that help our customers in both private and public sector to classify, protect, and control the access to their sensitive data regardless of where it resides,” Vallée further commented.
Danny de Vreeze, CEO of OneWelcome said: “Customer Identity – or CIAM – is a solution tailored for any firm with a digital presence that need to securely manage external identities and provide intuitive access to their online services. We have a state-of-the-art service that is used by European clients to connect and protect millions of users. Our motivated team is thrilled to expand our product leadership into new markets using the global reach of Thales.”
In 2022, Thales plans to hire 11,000 people worldwide, including 1,000 in cybersecurity.
The deal is subject to regulatory approvals and other closing conditions and will be completed later in 2022. Thales recently announced another acquisition in the cybersecurity domain.