November 5, 2024 – Paris, France- Atos has made an announcement of signing a Share and Asset Purchase Agreement with ALTEN SA with an intent to sell its Worldgrid division for 270 million euros.
An energy and utility consulting and engineering services company, Worldgrid recorded a revenue of around 170 million euros in the year 2023 and has a strength of approximately 1,100 employees.
The determining factor is consistent with Atos’s plans to hone in on core segments of high-performance computing and infrastructure-related businesses.
The move comes after a press announcement by Atos on June 2024 announcing its intention to sell Worldgrid. By incorporating ALTEN, Worldgrid will gain ALTEN’s abundant expertise in providing energy and utility solutions which will help provide services to its existing clients in Worldgrid.
Atos opines that all required positive consent from the regulators and social procedures with the employee representatives have already been obtained, making it ready for the integration of assets and people.
This acquisition was an important move for the engineering and IT company ALTEN as it allowed them to further bolster their presence in the energy and utilities area.
ALTEN will also bring on board employees from Worldgrid as the objective is to enhance what the company can offer in the way of energy and utility services.
According to ALTEN’s CEO Michel Basson, the company is focused on synergy
“This acquisition fits our strategic aim to assist the digital transformation process in the energy sector”.
Thomas Dumont the CEO of Atos was optimistic about the transfer saying that
“There is a way for Worldgrid to prosper and this is due to ALTEN’s profound knowledge of the industry and there is a win-win understanding in the agreement”.
It is expected that the transaction will be completed by the end of the year and this will change how Atos and ALTEN look at market opportunities in energy and digital transformation space.
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