The French government has presented Atos Group with a confirmatory offer to acquire its Advanced Computing business at an enterprise value of €410m. The potential deal does not involve the Vision AI operations. Vision AI primarily includes AI-enhanced video analytics software provider Ipsotek, which was acquired by Atos in 2021. A binding agreement between Atos and the French government is expected to be formalised in the next few weeks, with the potential deal likely to close next year.
The offer from the French government encompasses potential future earn-outs totalling €110m based on performance goals for 2025 and 2026. Of these, €50m is expected to be paid upon closing. This marks a downward revision compared to the initial values proposed in November 2024, which suggested a deal ranging up to €625m.
The Advanced Computing business includes high-performance computing and quantum computing sectors, expected to generate approximately €800m in revenue this year. This segment has been a key part of Atos’s portfolio, supporting a wide range of technological innovations.
In response to these changes, Atos’s UK-based Vision AI operations will be transitioned into a newly formed business unit within Eviden, focusing on expanding its AI, data, and security field divisions. Vision AI has expertise in advanced video analytics, which is applied in scenarios ranging from safety surveillance to quality inspection. According to Atos, this business remains an integral piece of the company’s strategy, aimed at enhancing service offerings in a competitive market.
Atos’s board of directors has endorsed this bid by the French state after an independent evaluation confirmed it reflects fair market value. The current management sees this offer as aligned with broader corporate strategies seeking profitability and streamlined operations.
The confirmatory offer follows a measure adopted by the French parliament to facilitate the potential nationalisation of Atos. Subsequently, the French government extended a non-binding proposal to possibly acquire the Advanced Computing segment, initially valued at €500m, with prospects of increasing to €625m, inclusive of earn-outs.
Atos maintains financial targets amid structural changes
Despite the structural alterations underway, Atos continues to adhere to its projected financial targets for 2028 unveiled at May’s Capital Markets Day. Chairperson and CEO Philippe Salle reiterated plans aiming at revenues between €9bn to €10bn, paired with an approximate 10% operating margin by 2028. The strategy centres on transforming Atos into a global tech advisor offering digital solutions via two major brands: Atos and Eviden. These would cover six core service areas: Cloud & Modern Infrastructure, Cyber Services, Data & AI, Digital Applications, Smart Platforms, and Digital Workplace under Atos. Eviden will hone its expertise around cybersecurity and Vision AI among other products.
In April, Atos released its first-quarter results for 2025, with revenue declining by 15.9% from last year down to €2.07bn, partly due to reduced outsourcing demands primarily within the UK. Nonetheless, new client orders have risen modestly from €1.6bn to €1.7bn.
Read more: Atos unveils four-year plan focusing on AI and digital solutions
