Atos in early talks to sell cybersecurity business to Airbus
AIRBUS has begun initial talks to acquire Atos’ cybersecurity and data unit, a deal that could confer an enterprise value of as much as 1.8 billion euros (S$2.6 billion) on the business.
Toulouse, France-based Airbus is eyeing Atos’ big data and security unit to speed up its digital transformation and enhance its defence and security portfolio, it said in a statement on Wednesday (Jan 3). The carrier said there’s no certainty the discussions will lead to an agreement. Both parties will now enter a due diligence phase.
Atos added it had received interest from another party, without elaborating. Thales was also exploring an offer, the Financial Times has reported.
The embattled French tech company, whose shares have dropped about 90 per cent in the last three years, is also still in talks with Czech billionaire Daniel Kretinsky’s EPEI over the sale of its legacy Tech Foundations unit. Other means to raise cash include further asset sales, well exceeding the target set earlier of 400 million euros.
Atos, based near Paris, faces more than 2 billion euros in debt repayments in the coming two years, with 500 million euros in bonds due in November and a 1.5 billion euros loan maturing in January 2025. Later next year, Atos has a further 750 million euros in bonds maturing.
Atos said it has started talks with its banks to secure their commitment to maintain financing, and provide refinancing where necessary. BLOOMBERG
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