Atos to Sell Tech Foundations Business, Creating Stand-Alone Digital Transformation Company Eviden SE
Global solution provider Atos is moving forward with its plan to split its business into two entities by selling its Tech Foundations business to private equity firm EP Equity Investment. The deal, valued at 2.0 billion Euros ($2.2 billion), includes the Atos brand name.
Once the sale is finalized, Atos’ Eviden business will be rebranded as Eviden SE. This move is part of Atos’ strategy to focus on digital, cloud, big data, and security services under the Eviden umbrella.
Atos initially announced its intention to split into two companies in June 2022. Tech Foundations, the business line being sold, specializes in managed services, hybrid cloud, infrastructure, and technology services. On the other hand, Eviden focuses on data-driven and sustainable digital transformation solutions.
The deal is expected to close in the fourth quarter of 2023 or the first quarter of 2024, pending shareholder approval. Atos has been actively divesting assets, including the recent sale of EcoAct SAS and Atos Italia, as part of its strategic realignment.
Despite facing challenges, such as a net loss of 600 million Euros ($659 million) in the first half of the year, Atos remains committed to reshaping its business portfolio. The company is also in negotiations with Mitel Networks for the sale of its Unified Communications & Collaboration Services businesses.
While a proposed sale of Eviden’s Evidian security software business to Airbus did not materialize, Atos continues to explore cybersecurity partnerships with the aerospace giant.