Atos’ Advanced Computing business contains the company’s High-Performance Computing (HPC) and Quantum services, as well as its Business Computing and AI divisions.
The French state has entered into exclusive negotiations with Atos to acquire the Advanced Computing business for €500 million, a figure that could rise to €625 million depending on how the unit performs.
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The French state had previously attempted to purchase Atos’ Mission Critical Systems, and Cybersecurity businesses in addition to the Advanced Computing unit, but that offer expired in early October after no agreement was reached.
The French state has now secured a period of exclusivity to conduct the streamlined deal until May 31, 2025, with both parties aiming to have signed a Share Purchase Agreement by that date, subject to regulatory approval.
Once the deal is signed, an initial payment of €150 million will be made to Atos.
Atos said its Advanced Computing business currently employs some 2,500 employees and generated around €570 million in revenue in 2023.
Beyond its Advanced Computing business, Atos expressed commitment to launch sales for its Cybersecurity and Mission Critical Systems units, which it said generated revenue of around €340 million in 2023.
The French IT giant’s sales push comes as it looks to turn its fortunes around amid a period of gloom.
Atos has struggled with debt, declining revenues, and a revolving door of CEOs with seven executives taking the company's reigns in just three years.
Having sold its Worldgrid unit to Alten SA in a deal worth €270 million earlier this month, the cash adds to its July rescue deal that saw creditors inject €1.7 billion into the embattled French firm.
