The French government has made a binding offer to acquire Atos’ Advanced Computing division for 410 million euros. However, the takeover does not include Atos’ Vision AI activities. The deal is expected to be finalized in 2026.
The French government wants to buy Atos’ High-Performance Computing (HPC) & Quantum and Business Computing & Artificial Intelligence divisions. Vision AI activities, mainly comprising Atos subsidiary Ipsotek, are excluded from the transaction.
The binding offer follows the French government’s earlier interest in strategic parts of Atos. It is part of a larger rescue plan for the ailing company, which seems to be slowly but surely returning to calmer waters. The price of 410 million euros includes 110 million euros in contingent payments that depend on profit figures for 2025 and 2026.
Why the French government is intervening
Atos performs critical functions for the French state, including securing military communications and providing data processing infrastructure. Minister Bruno Le Maire previously stated that France wanted to use “all possible means” to keep Atos’ strategic activities in French hands. Now it is clear what these means entail in financial terms.
The part to be acquired generates 800 million euros in expected revenue for 2025. However, Atos will have to downsize in order to back out. The company has been struggling with financial problems for some time. Atos’ enterprise value fell from 8.2 billion euros in 2020 to just 438 million euros at the end of last year. At the time of writing, however, the value has risen to over 730 million euros again.
Vision AI gets a new role
The Vision AI activities, based in the United Kingdom, will not be sold to the government. This division contributes more than a third of the operating margin of the originally intended acquisition. Atos will organize this group within Eviden as a new business unit.
The Atos Board of Directors has welcomed the offer. An independent expert confirmed that the valuation and terms of the transaction are in line with market value. Both parties aim to sign a binding agreement within a few weeks.
This development marks a new chapter for Atos after years of financial uncertainty. The French intervention demonstrates what is possible from a government to accommodate a strategically relevant party, although the path to this point has been complex, to say the least.