French Government Eyeing €1 Billion Acquisition of Atos' Strategic Assets: Advanced Computing, Mission-Critical Systems, and Cyber Products
The French government intends to purchase key assets from troubled tech company Atos for up to €1 billion.
These assets include Atos' Advanced Computing, Mission-Critical Systems, and Cyber Products divisions.
The French army uses Atos' advanced computing technology for secure communications in its nuclear weapons program.
The government aims to keep these assets in national hands to ensure their continued use and security.
The French government is expressing concern over foreign investors potentially taking control of Atos, a tech company with €4.8bn in debt that needs to restructure.
The government values Atos' secure communications technology and other cyber security assets, which it considers sovereign assets that must remain under French control.
Bruno Le Maire, the French finance minister, has signaled the government's interest in buying some of Atos' strategic assets, which account for approximately €900 million in annual revenues, less than 10% of the company's projected 2023 sales.
Dassault Aviation and Thales are potential suitors for Atos, a French tech company that employs 4,000 people and needs €1.7 billion in cash to support its operations.
Atos initially reported requiring less cash, but the new figure is significantly higher.
The company's shares rose 17% in early trading following news of the French government's interest.
Previously, Dassault Aviation had expressed interest in acquiring some of Atos's assets.