https://phys.org/news/2018-07-eu-anti-trust-probe-thales-gemalto.html

An HSM is hardware that "runs on encryption software to "generate, protect, and manage encryption keys used to protect data in a secure, tamper-resistant module," it said.

"Our society is increasingly dependent on data security solutions to secure all sorts of social, commercial or personal information," the EU's competition commissioner Margrethe Vestager said in a statement.