Atos, the world’s largest managed security services vendor, has announced the sale of its Worldgrid unit, a power grid consulting and engineering services provider, to Boulogne-based multinational Alten. The deal, valued at 270 million euros, is expected to close by the end of 2024. This sale comes in the wake of mounting financial struggles for Atos, including a 5 billion euro debt, and follows calls by some French lawmakers for the nationalization of the company to prevent further fragmentation. The government’s stake in the company is viewed as essential due to its involvement in supporting critical sectors, including the military.
Despite its struggles, Atos remains a strategic asset for France, particularly in its computing, mission-critical systems, and cybersecurity operations, which are vital to national security. The French government recently secured a “preferred share” in Bull SA, an Atos subsidiary, which specializes in supercomputing. This move is part of a broader effort to maintain control over sensitive activities crucial to national sovereignty. The government’s increasing involvement underscores the significance of Atos’s services, especially in the context of national security and defense.
Atos is undergoing a significant restructuring effort, which includes capital increases and debt issuance, with a goal to raise up to 1.8 billion euros. The company reported a slight decline in revenue during the first half of 2024, highlighting the ongoing challenges it faces. Philippe Salle, who will take over as CEO in February 2025, is expected to spearhead these efforts. His leadership is seen as a crucial factor in the company’s turnaround strategy as Atos seeks to stabilize its finances and remain a key player in the cybersecurity and IT services market.
Meanwhile, some French lawmakers advocate for the outright nationalization of Atos, arguing that transforming the company into a public asset could help secure its future and protect national interests. A recent amendment supporting this move was adopted by the National Assembly’s finance committee, though it still requires a parliamentary vote to be fully enacted. While the final outcome remains uncertain, the push for nationalization reflects the company’s strategic importance and the political debate over its future.
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