PARIS, FRANCE: Atos SE, a global leader in digital transformation, high-performance computing and information technology infrastructure, today announces that it has entered into a put option agreement with EP Equity Investment (“EPEI”), providing for exclusive negotiations to sell to EPEI 100% of Atos’ subsidiary which will hold its Tech Foundations business at the end of the internal reorganization under finalization.
The deal is expected to result in a net cash positive impact of €0.1bn and the transfer of €1.9bn of on-balance sheet liabilities, leading to an enterprise value of €2.0bn.
The deal is designed to give Atos solid grounds to pursue its growth trajectory and to reinforce its unique strategic positioning while ensuring the smooth continuity of commercial operations of both perimeters.
Bertrand Meunier, Chairman of the Atos Board of Directors, said: “In consistency with our announcements of June 2022, we have decided to present to our shareholders vote, the separation of the Group through the divestiture of TFCo, our legacy business, together with its liabilities. This will create value for our shareholders by both taking away the risk of TFCo’s turnaround and its various liabilities and refocusing Atos on Eviden and its good future growth prospects. We will hold an Investor Day on Eviden before our shareholders’ vote.”
Atos’ leadership team, Nourdine Bihmane, Diane Galbe and Philippe Oliva, said: “Today we are announcing a critical milestone in delivering the in-depth transformation of the Group. Following the sale of TFCo, Atos would become Eviden, a global leader in digital transformation with full strategic flexibility and enhanced capital structure to further accelerate its development. TFCo stakeholders would benefit from the backing and long-term vision of EPEI to fully implement its transformation and repositioning. We are delighted with today’s announcement and are really looking forward to writing the next chapter of both TFCo and Eviden with our employees, customers and all our stakeholders. This Transaction will unlock new opportunities for the employees of both TFCo and Eviden. We welcome EPEI’s full support to TFCo’s management and employees.”
With the contemplated Sale of Tech Foundations, the Group would become Eviden, a pure-play leader in high-growth digital transformation, big data and cybersecurity markets, and listed on Euronext Paris through Atos SE, the parent company of Eviden (expected to be renamed Eviden SE following the Sale).
As a pure-play leader in its fields, Eviden will carry out its own transformation, and will position itself for growth and cash generation, in line with its strategy focused on fast-growing markets and higher-margin activities, supported by the strengthening of the Group’s capital structure and at a rapid deleveraging pace.