Home Innovation IT Services Airbus has decided against acq...

Airbus has decided against acquiring the Atos data division

IT Services

Airbus has decided against acquiring the Atos data division

Atos faces bankruptcy as investors abandon struggling IT services company, with Airbus withdrawing from a deal to sell off big data and security divisions.

As more and more potential investors abandon the struggling IT services company, Atos is running out of runway. Atos's latest attempt to sell off a portion of its company in order to pay off its debt has failed. Airbus, a prospective buyer of the big data and security divisions of the IT services company, withdrew from the agreement following the conclusion of its "due diligence" review. As a result, while it considers its alternatives, Atos has once again delayed the release of its audited financial statement for 2023. In order to allow its auditors more time to analyze an independent business review report and finish their audit of non-cash goodwill impairment charges, it has already postponed the results' release once.

Airbus, an aircraft manufacturer, may have found synergies with Atos's data science and cybersecurity divisions due to its existing cybersecurity company and handling of large amounts of data from its earth observation satellites. However, Atos announced in February that negotiations with an additional bidder had broken down. According to Atos CEO Paul Saleh, in late February, EP Equity Investment was in negotiations to acquire the company's Tech Foundations infrastructure management division, but the parties were unable to reach a consensus on the parameters of the acquisition and the price. It was not until mid-January that he assumed the company's senior position.

Business News

Recommended News

Latest Magazine