France makes 700-million-euro offer for Atos security units

This photograph shows the logo of French IT consultancy company Atos on a building in Rennes, western France, on March 21, 2024. (Photo by Damien MEYER / AFP)

PARIS, France — Debt-laden tech group Atos said Friday the French state has made a 700-million-euro bid for its most sensitive businesses, including cybersecurity and the supercomputers used for the country’s nuclear deterrent.

The offer, equivalent to $750 million, comes after Paris said it would not allow the French company’s strategic activities to be taken over by foreign actors.

Atos said in a statement that its board and management “will discuss this proposal with the French State, noting that no assurances can be made that the parties will successfully negotiate and enter into a definitive agreement”.

The French state is seeking to acquire the group’s activities in advanced computing, mission-critical systems, and cybersecurity.

It also comes three days after Atos chose a financial rescue offer from its main shareholder, French-owned IT consultancy Onepoint, over a bid from Czech billionaire Daniel Kretinsky.

Atos, which holds contracts with the French army and is the IT partner for the Paris Olympics, is sagging under almost five billion euros of debt.