It appears that Czech billionaire Daniel Kretinsky has entered into exclusive negotiations to acquire Atos’ legacy operations, which are currently running at a loss. The deal, which is valued at 2 billion euros ($2.20 billion), is expected to substantially reduce the scope and liabilities of the French IT consulting firm, which has been struggling recently.
Atos is actually a multinational IT service and consulting company based in France, but with offices all over the world. They specialize in a variety of services including hi-tech transactional services, unified communications, cloud, big data, and cybersecurity. It’s always fascinating to learn more about the different types of services that companies like Atos offer!
Atos has announced that the talks with Kretinsky’s EP Equity Investment (EPEI) vehicle are in addition to a 900 million-euro share-sale plan. The share-sale plan is intended to strengthen Atos’ balance sheet even further.
According to Atos, the proposed sale of Tech Foundations to Kretinsky’s EP Equity Investment (EPEI) vehicle would generate 100 million euros in cash and reduce the company’s liabilities by 1.9 billion euros. The enterprise value of Tech Foundations is estimated at 2 billion euros.