Thales is to acquire nCipher in a recommended cash deal which values the Cambridge-based encryption firm at £50.7m.

According to Thales, the acquisition of nCipher is in line with plans to expand its presence in the Internet and communications system security market.

"nCipher will complement our existing encryption products portfolio by adding a hardware security module product range, a provisioning product for key management and a product to secure data stored on tape from loss, theft or compromise," said Thales.

Under the terms of the Offer, nCipher shareholders will receive 300 pence in cash for each nCipher Share.
Accordingly, as at 10 July, the offer values the existing issued ordinary share capital of nCipher at approximately £50.7m.

nCipher has been listed on the London Stock Exchange since 2000.