2024 isn’t off to the best start for former French digital flagship Atos. Discussions with billionaire Daniel Kretinsky to buy Tech Foundations have ended. Airbus withdrew its application until the takeover of the Big Data and Security branch.
In January, just a few months after arriving, Yves Bernard resigned. The business is half-baked and Atos is heavily in debt. By the end of 2025, the company must find a solution to pay off 3.65 billion euros in loans and bonds.
No future is possible by selling the family jewels
Is a future still possible for Atos? This is what they hope for from the Ministry of Economy, which is involved in the discussions with the aim of “stabilizer its financial status and to give all the necessary visibility to the interested parties’.
After the Airbus withdrawal, the government announced that it was working on building a national solution to protect strategic activities. “All the interests of France will be preserved,” promises Bruno Le Maire.
Message received, replies David Laiani, President of Onepoint. The services company is an 11% shareholder in Atos. In 2023 it was offer to buy of Atos’ cyber security activities rejected.
But the manager has not given up and defends another strategy for the company, which he detailed in an interview with Le Figaro. For David Laiani, who has been on the board since February, it is urgent to end the sale of Atos’ “family jewels”.
Bursey’s desired sovereignty, without incision
“We must immediately end any divestment project while maintaining asset integrity to build a New One Atos that is off to a good start,” he insists. Because according to the boss of Onepoint, the reboot is unthinkable without the protection of pearls like BDS.
However, Bercy did not rule out the separation of Atos’ activities as part of the implementation of a “national solution”. But for David Layani, such a policy would be doomed to failure because sovereignty “cannot be divided”.
The chief executive hopes to rally the country to his cause and thus confirms that his project for Atos represents “the best response to the legitimate concern of Bruno Le Maire”. However, Onepoint will need to find allies. The actor realizes 500 million euros of turnover, twenty times less than Atos.
“Lenders will make an effort and shareholders will have to put money in,” says David Laiani in response. Why would they agree to such an effort or even such a risk? Because Atos has the capacity to become the “Airbus of cyber and digital”.
Atos, the Airbus of cyber and digital
Achieving “within two or three years, 6% to 8% growth and margins comparable to those of its competitors” remains possible for Atos. This requires recapitalization. And Onepoint of course plans to participate.
In a press release issued this morning, March 25, Atos said it had taken note of the comments made by David Laiani. She adds that Onepoint’s plan has not yet been presented to the board of directors.
Therefore, the company is waiting to make a decision. Another big deadline looms for Atos. On Tuesday 26, the results for 2023 will be published. This financial meeting was postponed, with the company only reporting revenue, operating margin and free cash flow at the end of February. The week promises to be intense for Atos leaders and for the future of the group.