French Government Bids for Struggling IT Firm Atos

The financially troubled French IT company Atos has received a bid of €410 million from the French government for its advanced computing operations. These operations are considered of national strategic importance, particularly due to their use in the nuclear industry. Negotiations between Atos and the government have been ongoing since November regarding these supercomputing activities. Atos aims to finalize the sale agreement within weeks, with completion expected next year.

Finance Minister Eric Lombard described the move as a significant step, stating, 'It is the state's responsibility, when necessary, to preserve and develop the most strategic industrial capabilities.' He hopes the transaction will be completed swiftly to 'secure the future of these crucial operations for France.'

Approximately 2,500 employees, mostly based in France, work in this division. The technology is utilized not only in the nuclear sector and France's nuclear weapons arsenal but also for critical industrial applications. Atos anticipates the division will generate around €800 million in revenue this year.

Atos has faced high debt levels in recent years, leading to agreements where creditors took ownership. The company recently announced job cuts to reduce costs. Atos, which also operates in the Netherlands, currently employs about 74,000 people.