" class="no-js "lang="en-US"> Onepoint confirms its intent to acquire Atos Digital
Wednesday, December 07, 2022

Onepoint confirms its intent to acquire Atos Digital, Big Data and Security businesses (Evidian)

David Layani, onepoint‘s founding Chairman, said, “By joining forces, we are convinced that this proposed combination would create value for Atos, onepoint, all of our talent, and our customers and partners. All the conditions are on the table: attractive price, secured financing, ambitious industrial project aligned with Atos’ strategic plan. Together, we could preserve our values and build a French technology champion with an international footprint. With this offer, we would be able to leverage our ability to serve our customers end-to-end. This business combination would strengthen France’s digital sovereignty by developing the most strategic expertise, particularly in cybersecurity, on French soil. It is also an ambitious project for employment.”

Onepoint, a leader in technology transformation for businesses and public sector players with 14 locations worldwide, in Europe, North America, North Africa as well as Asia-Pacific, confirms the terms of a letter of intent it submitted to the Chairman of the Board of Directors of Atos on September 27, for a combination with the Digital and Big Data and Security businesses, which Atos announced would be spun off to its shareholders in 2023 once they are combined into an entity called Evidian.

Under this proposal, onepoint would buy for cash said businesses based on a €4.2 billion enterprise value. In order to share the new group’s value added, Atos could retain an equity stake in it of up to 30 percent following the acquisition.

The acquisition would be funded by a rights issue amounting to some €2 billion arranged by a leading European asset management firm, and by a €2.2 billion further issue of existing debt notes. In order to complete the transformation investments that form part of the planned industrial project, the new group would have access to a €500 million long-term credit line.

Following this acquisition, the new group would have 60,000-plus employees with a goal to reach 100,000 employees and €10 billion revenues within five years, with a view to being a leader in markets like defence, healthcare, energy, banking and service platforms.

Adding value for all onepoint and Evidian clients and talents, the transaction would allow:
• The deployment of €1 billion over four years to fund transformation investments including merging the new group’s subsidiaries.
• Significantly step up foreign growth in North America, Europe, North Africa and Asia Pacific.

Backed by the fact that Evidian’s and onepoint’s businesses and areas of expertise are a very good fit, the new group would cover, like onepoint and on a larger scale, all the fields of major transformations from consulting to business architecture including tech implementation and change management support. It would guarantee all its clients, in a stable and serene environment, a single point of contact for all expertise and capable of managing large-scale projects end-to-end.

Onepoint and Evidian together would have a good geographical fit focusing on key markets like the Cloud, business architecture, big data and cybersecurity.

This acquisition would generate considerable sales and industrial synergies, significantly ramp up foreign growth and instil a new dynamic among talent. It is perfectly in line with both firms’ strategies by fostering the emergence of a new French independent champion and market leader abroad, while shoring up France’s and Europe’s tech sovereignty, which is vital in the current economic and geopolitical climate.

This transaction is also consistent with the growth track record of onepoint, which rolls out its tried and tested ground-breaking business model combining sustainability, rapid growth and high profit margins. Onepoint would rely on current Evidian and onepoint talents to bring about a unique corporate culture, as it has done following all its past acquisitions, in order to jointly build and ensure the success off the new group, while giving talents better career prospects in France and abroad, and better opportunities to acquire new skills and expertise.

Thanks to this transaction that boosts its 14 June 2022 plan, Atos could bring forward the plan’s completion by a year so as to focus on restoring the growth of its existing businesses that are known worldwide to be world class.

As is common practice for similar transactions, onepoint’s proposal is subject to due diligence, notably in respect of assumptions underlying the enterprise value applied in the planned transaction.

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