Thales Freezes IT Spending, Agrees New €2 Billion Credit Line

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French multinational defence and infrastructure giant Thales has gone into an enterprise lockdown as it enacts what it calls a “global crisis adaptation plan” to defer spending on non-critical investments — including IT projects.

One of the areas it has deemed non-critical is R&D: a department which received over €1 billion in funding in 2019. Thales cites IT as non-critical investment, but does not go into details on what projects precisel will be deferred.

The company has also agreed a new €2 billion syndicated credit facility that it can tap any time over the next 12

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