IT companies firm Atos runs into headwinds with plan for IBM-style break up

That change of plan didn’t please a few of its minority buyers. One among them, CIAM, had publicly Atos executives of offering inadequate data to shareholders, settling for too low a worth, and having a battle of intersts. It filed swimsuit towards Meunier in mid-October, prompting his resignation.

On October 16, 2023, Atos named one in every of its unbiased administrators, Jean-Pierre Mustier, as its new chairman, and mentioned the sale of TFCo to EPEI was nonetheless essentially the most life like method to separate the 2 halves of the enterprise and enhance its danger profile.

Nonetheless, it mentioned, it might must renegotiate some monetary features of the deal, which it now expects to shut within the second quarter of 2024, not the primary. If the take care of EPEI falls by means of, it must contemplate the sale of different belongings or search different sources of finance to satisfy money owed falling due in 2025.

New title

Underneath the pan launched in August, Kretinsky will take over TFCo and likewise the Atos model, which the legacy enterprise unit could have unique rights to. The father or mother firm, in the meantime, will undertake the title Eviden, a variant of the Evidian model beforehand used for its safety merchandise.

EPEI has little expertise managing know-how corporations. The closest factor in its portfolio is a stake in Aareal Group, a financial institution that has an ERP software program subsidiary, Aareaon, which supplies digital options for the European property business. Its different investments embrace minority stakes in nationwide postal companies, grocery store chains, client electronics shops and a French TV community.

Atos is searching for a clear break between the 2 halves of its enterprise, and has spent the final 12 months allocating employees to 1 half or the opposite.