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), will also include the transfer of the Atos brand name.
Once the sale is finalized, Atos’ remaining business will operate under the name Eviden SE. This new entity will focus on digital, cloud, big data, and security services, emphasizing data-driven and sustainable digital transformation solutions.
Atos initially 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. The sale of Tech Foundations will leave Eviden SE with approximately 57,000 employees serving clients in over 53 countries.
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 restructuring its business portfolio, recently completing the sale of its EcoAct SAS business and Italian operations, with plans to sell its Unified Communications & Collaboration Services businesses to Mitel Networks.
While a proposed sale of Eviden’s Evidian security software business fell through earlier this year, Atos continues to explore strategic partnerships in the cybersecurity space. Airbus, a potential investor in Evidian, recently ended talks with Atos but remains open to collaboration opportunities in the future.