Airbus has decided to end its plan to acquire a stake in the future branch of digital and cybersecurity activities of Atos. The equity stake would have been nearly 30%. A decision that puts Atos in a little more difficulty.
Atos and Airbus had nevertheless announced on February 16 that they had entered into discussions, which would have enabled Airbus to take a minority stake in Evidian, the future entity which will bring together Atos’ most prized assets, including the BDS cybersecurity division and supercomputers. .
“After careful consideration, Airbus has come to the conclusion that the potential acquisition of a minority stake in Evidian does not meet the company’s objectives in the current context and structure,” the group said in a statement on Wednesday.
Atos market capitalization is now only 1.18 billion euros
A source told Reuters that Atos values Evidian at around seven billion euros, including three billion euros in debt. “At this level of valuation, a 29.9% stake in Evidian would therefore have cost 1.2 billion euros” mentions Reuters.
The market capitalization of Atos is now only 1.18 billion euros. An Airbus stake in Evidian would have allowed Atos to obtain a crucial investment.
Last September, Atos rejected an offer to buy Evidian for an enterprise value of 4.2 billion euros from the French group Onepoint. A time tipped as a possible buyer, Thales indicated in January that it was not interested in taking a stake in Evidian.
Atos, formed in part by a series of acquisitions made under the leadership of its former CEO, Thierry Breton, a former French finance minister and now European Commissioner for the Internal Market, has close ties to the security world in France. The state has the final say on partnerships.