Atos, a leading French information-technology company, has announced that it is in exclusive talks with EP Equity Investments for the sale of its Tech Foundations business. The deal, valued at 2 billion euros ($2.20 billion) including debt, is part of Atos’ strategic plan to separate the subsidiary from Eviden, its data business, in order to enhance its capital structure.
If approved by shareholders and regulators, the plan involves a name change for Atos to Eviden, while Tech Foundations would continue operating under the Atos brand as its sole owner.
The planned sale is expected to bring in EUR100 million in cash and transfer EUR1.9 billion of debt, resulting in an enterprise value of EUR2.0 billion. Additionally, Atos has outlined capital increases worth EUR900 million as part of the deal, with EPEI committing to invest EUR217.5 million in the new company.
According to Atos, this transaction aims to provide solid foundations for Eviden’s growth trajectory and reinforce its unique strategic positioning, ensuring the seamless continuity of commercial operations for both entities.
The completion of the deal is anticipated in the first quarter of 2024.
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