French technology company Atos has signed a share and asset purchase agreement with IT and engineering solutions provider ALTEN for the sale of its Worldgrid business unit for €270m ($294m).
Worldgrid offers consulting and engineering services and has a workforce of nearly 1,100 employees.
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In 2023, the unit reported revenues of approximately €170m, backed by a diverse and established client base.
Through this deal, ALTEN intends to enhance offerings in the energy and utilities sector.
Following the acquisition, ALTEN plans to maintain uninterrupted service for Worldgrid’s clients and staff.
All necessary social processes with employee representatives have been concluded, and regulatory approvals are in place, ALTEN said.
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By GlobalDataThe transaction is anticipated to be completed before the end of this year.
In June 2024, the French government extended a non-binding offer to purchase Atos’ cybersecurity and advanced computing divisions for €700m.
This follows the government’s initial announcement in April 2024.
France’s Finance Minister, Bruno Le Maire, discussed the government’s acquisition plans on national radio, highlighting the strategic importance of these units.
Atos employs approximately 82,000 people and is said to generate annual revenue of around €10bn.
The company delivers tailored end-to-end solutions across various industries in 69 countries.
In January 2024, Atos held early-stage talks with Airbus for the divestiture of cybersecurity and data unit, a transaction that could value the business at up to €1.8bn ($2bn) inclusive of debt.
