Thales and Exail Technologies Finalize a Merger Agreement

On July 30, 2026, Thales and Exail Technologies signed a merger agreement, finalizing negotiations that began on July 6. This agreement provides for the acquisition by Thales of all Exail Technologies shares and ODIRNANE bonds not held by the Gorgé family through a mandatory public tender offer. The price per share is set at €134, in accordance with the initial announcement. The firm Ledouble will conduct an independent audit of this offer.

The completion of Thales' acquisition of the shares held by the Gorgé family, representing 35.51% of Exail's capital, is expected in the third quarter of 2027. The overall offer for 100% of Exail's shares will be submitted after obtaining the required regulatory approvals, with a closing expected by early 2028.