France Bids €700 Million for Strategic Unit of Atos

French Government Moves to Aid Atos SE with Partial Acquisition

In a significant move to support the faltering IT company Atos SE, the French government has proposed purchasing sections of its big data and security division for an estimated enterprise value of €700 million ($751 million). According to a recent announcement, the non-binding offer focuses on acquiring Atos' supercomputers, mission-critical systems, and cybersecurity operations within its BDS unit. Although no final agreement has been reached, ongoing discussions highlight the importance of these strategic assets remaining under French control.

Finance Minister Bruno Le Maire emphasized the government's commitment to maintain control over these sensitive activities, noting that partnerships with other firms are being considered. This intervention aligns with France's broader efforts to safeguard crucial national interests amidst Atos' financial turmoil.

Atos' shares experienced a notable surge, jumping 18% to 90 cents in Paris, peaking at a 23% rise earlier in the day. Despite debilitating losses—amounting to 90% of its value over the past year—the company continues to hold critical IT service contracts in France, particularly within the defense, nuclear sectors, and for the cybersecurity of the upcoming Olympic Games.

In conjunction with government intervention, Atos is engaged in talks with a consortium led by its largest shareholder, Onepoint, along with creditors to structure a bailout package. This consortium, spearheaded by David Layani’s Onepoint, hopes to finalize a comprehensive restructuring agreement by next month.

Atos is currently under a formal conciliation process since April, amid nearly €5 billion in debt, working with creditors and banks to stave off bankruptcy. The selection of the Onepoint-led bid is seen as the culmination of extensive negotiations involving the company's banks, creditors, shareholders, and French authorities.