Atos said that it will launch a due diligence phase with Airbus for the sale of the cybersecurity business unit and has revealed that its discussions with the latter are in the initial stages and are expected to advance
French IT company Atos has disclosed that Airbus has made a non-binding offer for its cybersecurity business division Big Data and Security (BDS), indicating an enterprise value in the range of €1.5bn and €1.8bn.
Reports from various media outlets last month had suggested ongoing discussions between Atos and Airbus concerning this matter.
Atos revealed that its discussions with Airbus are in the initial stages and are expected to advance. The French company said that it will launch a due diligence phase with Airbus and that it will provide updates on the outcome to the market in due course.
According to Atos, its management and board of directors consider that among the various potential divestments, the sale of BDS would be a key factor, and would maintain the strategic interest of the remaining activities.
Airbus stated: “The acquisition of BDS could significantly accelerate the digital transformation of Airbus, enhance the company’s defence and security portfolio with strong capabilities in cyber, advanced computing and artificial intelligence.”
BDS is part of Eviden (formerly Evidian) which was separated from Atos in 2022. Eviden specialises in the development, production, and maintenance of advanced cybersecurity products that integrate data protection, access management, and digital identity solutions.
Atos has also confirmed exclusive negotiations with EP Equity Investment (EPEI) are going on for the sale of its Tech Foundations business.
Discussions persist regarding the pricing, transaction structure, and the transfer of a significant portion of Tech Foundations liabilities, said the company.
Atos indicated that due to the inherent uncertainty in negotiations, there is no assurance of reaching an agreement.
Furthermore, Atos has noted adjustments to the initially planned size of the capital increase for Eviden due to changing market conditions and responses.
Additionally, the company is in discussions with EPEI to explore the legal and financial conditions under which the latter could potentially be released, either wholly or partially, from its commitment to participate in the capital increase.