Atos and rival DXC Technology said that they have decided not to continue talks about a potential acquisition. DXC and Atos, in separate statements, said that they have made a unanimous decision to end the talks. Media reports in January said that Atos made a formal approach valuing NY listed DXC at more than $10 bn including debt, in what would have been its biggest-ever acquisition. Atos confirmed last month it made an approach to DXC.
France’s Atos had made a more than $10 bn takeover approach for New York-listed rival DXC Technology to boost its presence in the US and have access to a wide range of clients, B2B products, analytics, cloud apps, IT outsourcing services and lead to synergies and cost savings. The French firm led by CEO Elie Girard, had recently bought cybersecurity, AI and digital consultancy firms to grow its revenues by 5% to 7% in the mid-term.