Thales has signed a binding agreement to acquire the Gorgé family’s 35.51% stake in Exail Technologies, opening the way for a full takeover of the French maritime robotics and navigation specialist. The Thales Exail acquisition agreement, announced on 6 July 2026, values Exail at an enterprise value of about €3.9 billion and would be followed by a mandatory tender offer for the remaining shares and convertible instruments.
The transaction is centred on underwater drones, autonomous maritime systems and high-grade navigation technologies, areas increasingly central to naval operations, mine countermeasures and seabed security. Thales said the first step of the deal is expected to close in the third quarter of 2027, subject to antitrust and regulatory approvals, with full ownership targeted by early 2028.
Thales Exail acquisition: a €3.9bn push into underwater drones
Under the agreement, Thales would pay €134 per Exail share for the Gorgé family’s stake before launching the mandatory offer at the same price. The French defence group expects the transaction to generate more than €90 million in adjusted earnings before interest and tax synergies by 2032, including cost savings and commercial gains from combined research, production and sales platforms.
Thales Chairman and Chief Executive Officer Patrice Caine said the acquisition would strengthen the group’s high-technology industrial base and support defence and civil customers while reinforcing European technological sovereignty. Exail Chairman and Chief Executive Officer Raphaël Gorgé described the company as the result of the 2022 combination of ECA Group and iXblue, which created a French specialist in maritime robotics and navigation systems.
French maritime robotics gains strategic weight
Exail is a Paris-headquartered high-tech industrial group active in robotics, maritime systems, navigation, aerospace and photonics. According to the company, Exail Technologies operates in maritime robotics and navigation systems, serves defence and civil customers in 80 countries, employs about 2,200 people and reported €479 million in 2025 revenue.
Its portfolio includes autonomous underwater vehicles, uncrewed surface vessels, inertial navigation systems and mine countermeasure solutions. These technologies are relevant for navies seeking to detect mines, inspect critical underwater infrastructure and operate in degraded navigation environments where satellite signals may be unavailable or contested.
Underwater warfare demand drives European consolidation
The planned takeover comes as European defence companies expand into uncrewed and underwater systems, reflecting the growing operational importance of drones at sea as well as in the air and on land. Reuters reported that Thales is seeking a larger share of the underwater drone warfare market, after Safran ended earlier takeover discussions with Exail.
The strategic logic goes beyond mine warfare. Maritime forces are increasingly focused on anti-submarine operations, seabed surveillance, port security and the protection of pipelines, data cables and offshore energy infrastructure. For France, the deal would also consolidate a national technology champion inside a larger defence group with global reach. If approved, the acquisition would place Exail’s autonomous maritime systems at the centre of Thales’ naval technology strategy for the next decade.
