Atos acquires Syntel for $ 3.4 billion

Jul

23

2018

The French Atos has reached agreement with the American Syntel on a takeover for the amount of 3.4 billion dollars, about 2.9 billion euros. The deal must strengthen Atos on the American market.

atos logo The French IT company writes in a statement that the services of Syntel, which also focuses on IT services, are a good addition to its offer. In addition, the acquisition wants to be able to offer end-to-end services to customers in the US. It is expected that the acquisition, which has the approval of the Boards of Directors of both companies, will be completed by the end of this year.

According to Atos, the deal means that 23,000 employees of Syntel will join. Of these, 18,000 employees are in India. Syntel achieved sales of 924 million dollars in 2017, 89 percent of which in the US. According to Bloomberg , three customers, American Express, State Street Bank and FedEx, together accounted for 45 percent of sales.

Atos did last year an attempt to take over the Dutch simcard maker Gemalto for about 4.3 billion euros. Gemalto rejected that bid shortly afterwards, because Atos would not have the right vision for the future of the company. Atos has about one hundred thousand employees and achieved a turnover of 12.69 billion euros in 2017.

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