Atos SE said it’s been approached by “several players” that are potentially interested in buying its legacy IT outsourcing unit after the French technology company announced plans to split up in June.
(Bloomberg) — Atos SE said it’s been approached by “several players” that are potentially interested in buying its legacy IT outsourcing unit after the French technology company announced plans to split up in June.
The company made the statement on Monday in response to media “rumors.” An earlier report from French newsletter, La Lettre de l’Expansion, said that private equity firms Apollo and Cerberus had expressed interest in a potential deal.
A representative for Apollo declined to comment. A spokesperson for Cerberus didn’t immediately respond to a request.
Atos said the expressions of interest in its Tech Foundations business wouldn’t necessarily lead to a deal. The French IT group announced plans to break apart earlier this year, separating its historic IT outsourcing unit from its faster-growing cybersecurity business, which it’s re-branded as Evidian.
Read More: Atos CEO Leaves Company Earlier Than Planned in Reshuffle
The company has suffered from a series of profit warnings and setbacks that sent its market value plummeting and got it removed from France’s benchmark CAC 40 Index. Executives have disagreed on how to revive the company, and former Chief Executive Officer Rodolphe Belmer left his position months earlier than planned. He said he had “no choice” but to resign after the restructuring plan was announced.
Atos shares rose 1.5% in Paris trading at 9:30 a.m. The stock has declined about 73% this year.
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