DXC Technology rejected ATOS SE’s acquisition proposal.
As previously covered, on January 6, 2021, DXC received an unsolicited, preliminary and non-binding proposal from Atos SE.
The DXC Board of Directors evaluated the proposal, which was “determined to be inadequate and lacking certainty in light of the value the Board believes DXC can create on a standalone basis by executing our transformation journey.“
The two companies agreed to halt further discussions.
This is the laconic note issued by Atos:
Further to the statement issued by the Company on January 7, 2021, the Board of Directors of Atos has unanimously determined not to pursue a potential transaction with DXC Technology.
Further to the statement issued by the Company on January 7, 2021, the Board of Directors of Atos has unanimously determined not to pursue a potential transaction with DXC Technology.
Formed in April 2017 as a result of the combination of Computer Sciences Corp and the Enterprise Services arm of Hewlett Packard Enterprise, DXC Technology provides global companies with solutions to run their mission-critical systems and operations while modernizing IT, optimizing data architectures, and ensuring security and scalability across public, private and hybrid clouds.
Atos is a global leader in digital transformation solutions such as cybersecurity, cloud and high-performance computing, with 110,000 employees and annual revenue of € 12 billion. The group provides end-to-end solutions for all industries in 73 countries. Atos operates under the brands Atos and Atos|Syntel. Atos is a SE (Societas Europaea), listed on the CAC40 Paris stock index.
Sourced from Finsmes