🎉 Unleash the power of strategic Trading. Trading Platform.

Butler Industries joins Onepoint in Atos rescue consortium

Butler Industries joins Onepoint in Atos rescue consortium

PARIS (Tiafx) – Paris-based Butler Industries is joining a consortium to rescue distressed IT consulting firm Atos, the company’s leading shareholder Onepoint said on Sunday in a statement.

Onepoint, which holds 11.4% of Atos, said last month it was ready to invest and organise the group’s capital restructuring to protect the integrity of its assets after planemaker Airbus pulled the plug on a deal to buy the ailing company’s cybersecurity assets.

The consortium’s ambition is “to make Atos the European platform for digital, cybersecurity and artificial intelligence, and the leading European cloud operator,” the Sunday statement read.

David Layani, chief executive of Onepoint, said he was pleased to have the support of investor Walter Butler, the founder of Butler Industries.

“He’s strengthening our OneAtos project,” Layani said.

© Reuters. FILE PHOTO: The logo of French IT consulting firm Atos is seen on a company building in Bezons near Paris, France, March 20, 2024. REUTERS/Gonzalo Fuentes/File Photo

Saddled with almost $5 billion in debt, Atos will hold a call with its creditors on April 8 as part of its debt restructuring talks.

Atos’ cybersecurity unit is home to some of France’s strategic assets, including cybersecurity for the upcoming Paris Olympic Games, and authorities have said they are looking at legal ways to keep it under French control.

Leave a Reply

Your email address will not be published. Required fields are marked *

We make Trading Forex CFD ridiculously easy. On day one, they’re ready to go. And retaining them is easier.