Struggling IT services giant Atos says it is continuing discussions with the French state after failing to reach an agreement for the government to bu

Atos stumbles again as French government says 'non' to rescue deal

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2024-10-07 14:30:04

Struggling IT services giant Atos says it is continuing discussions with the French state after failing to reach an agreement for the government to buy key assets from its Big Data & Security (BDS) division.

Atos, which is embarking on a restructuring plan after suffering several years of declining revenue and rising losses, says the non-binding confirmatory offer it received from the French state expired on October 4, without the parties reaching an agreement.

That offer, which was mooted earlier this year but officially received in June, would see the Paris government take control of certain strategic assets from the ailing business to ensure they remain under French control, for which it was willing to stump up €700 million ($748 million).

These comprise the Advanced Computing, Mission-Critical Systems, and Cybersecurity activities of the BDS division, which are involved in IT projects for the French military and other areas of the public sector.