France has offered to buy Atos’ cybersecurity and advanced computing units for €700m ($747.47m), according to a market update posted by the company today (14 June).
The French Government first published plans to acquire part of Atos in April 2024 via a press release to the public.
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Atos now states that it has received a non-binding offer letter from the French Government, which its board of directors will now negotiate with the French state.
France’s Finance Minister, Bruno Le Maire, spoke about the proposed acquisition on French radio.
“With other companies that can be partners, we have taken responsibility to buy Atos’ strategic activities and guarantee that these strategic activities remain under the full or partial control of the state,” he said.
Atos also confirmed that it would continue to reach a financial restructuring agreement with its creditors and largest shareholder Onepoint by July 2024. Its restructuring has been in process since April 2024.
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By GlobalDataOver the past 12 months, Atos has lost around 90% of its market value and has around €5bn of debt.
Regardless, it has continued to be central to France’s cybersecurity and remains the predominant cybersecurity provider for its upcoming Olympic Games.
According to research and analysis company GlobalData in its 2024 thematic intelligence report into cybersecurity, global security revenues will reach upwards of $290bn by 2027.
