Airline manufacturer Airbus Wednesday said it is no longer pursuing discussions with global solution provider Atos over acquiring a 29.9-percent stake in Atos’ Evidian cybersecurity business.
Atos, in response, confirmed the move by Airbus.
That does not mean that Airbus is no longer interested in acquiring part of Atos’ Evidian business. Both companies, in press releases released Wednesday, only stated that that Airbus is not pursuing the acquisition of a 29.9-percent stake in Evidian.
[Related: Atos May Split Into Two Companies: 5 Things To Know]
Atos in February confirmed rumors that Airbus was looking to acquire a 29.9-percent stake in Evidian. For Airbus, which in addition to being one of the world’s largest aircraft manufacturers is also a major cybersecurity technology provider, that acquisition would have added substantially to its capabilities.ADVERTISEMENT
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Atos’ North American business is ranked as the world’s 28th largest solution provider on CRN’s 2022 Solution Provider 500.
Evidian was formed out of Atos’ decision in early 2022 to divide itself into two separate companies. Atos would maintain the company’s focus on managed infrastructure services, digital workplace, and professional services. Evidian would focus on digital transformation, big data, and cybersecurity.
Airbus, in its release, wrote that the company has concluded that the acquisition does not meet its objectives in the current context and under their current structure.
“However, Airbus and Atos continue to discuss other potential options and pursue the work on the long term strategic and technological partnership between Airbus and Evidian which has the potential to create significant value for both companies,” Airbus wrote.
Atos, for its part, posted a similar statement that read in part, “Atos confirms it will, with Airbus, explore other options and pursue the work on the long term strategic and technological partnership between Airbus and Evidian which has the potential to create significant value for both companies, with a view of submitting these for consideration to its board of directors.”
Rumors of Airbus’ possible interest in acquiring part of Atos’ Evidian business were reported as early as January 1. At that time, both Atos and Airbus declined to discuss what they said were rumors.
Spokespeople from Atos and Airbus, both of which are based in France, did not respond to a CRN request for more information by press time.
While discussions between Atos and Airbus over the fate of part of Evidian seem likely continue, Evidian has other suitors.
Paris-based Thales and its adviser, Centerview Partners, in February of 2022 reportedly approached several investment firms including Bain Capital to discuss a deal that would have the private equity firms picking up the parts of Atos that Thales isn’t interested in owning.
Airbus and Thales are major competitors in the European cybersecurity business.
Atos in September also received an unsolicited letter of intent from Paris-based digital transformation services provider Group Onepoint in association with the British private equity fund ICG related to a potential acquisition of Evidian for an enterprise value of 4.2 billion Euros, or about $4.0 billion. At the time, Atos in a statement said, “The Board of Directors has convened and unanimously concluded that it is not in the interest of the Company and its stakeholders.”LEARN MORE: Cybersecurity | Mergers and Acquisitions
Joseph F. Kovar is a senior editor and reporter for the storage and the non-tech-focused channel beats for CRN. He keeps readers abreast of the latest issues related to such areas as data life-cycle, business continuity and disaster recovery, and data centers, along with related services and software, while highlighting some of the key trends that impact the IT channel overall. He can be reached at [email protected].
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