Atos to Sell Tech Foundations Business, Creating Stand-Alone 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), will also include the transfer of the Atos brand name.
Once the sale is finalized, Atos’ Eviden business will be rebranded as Eviden SE. It’s important to note that Eviden should not be confused with Evidian, which is a separate entity focused on identity and access management software.
Atos announced its intention to divide the company in June 2022, with Tech Foundations specializing in managed services, hybrid cloud, infrastructure, employee experience, and technology services. On the other hand, Eviden will focus on digital, cloud, big data, and security solutions for sustainable digital transformation.
The deal has received unanimous support from Atos’ board of directors, and shareholder approval will be sought during an upcoming extraordinary general meeting. The transaction is expected to close in the fourth quarter of 2023 or the first quarter of 2024.
This move follows Atos’ recent sale of other assets, including EcoAct SAS and Atos Italia. 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, both companies are exploring cybersecurity partnerships moving forward.