Atos acquires Siemens IT Solutions and Services

MUMBAI: France-based IT service company Atos today said it has completed the acquisition of Siemens IT Solutions and Services GmbH, the holding company of all IT activities of engineering giant Siemens.

All conditions precedent for this transaction have now been completed, the last step was the approval by shareholders at the extraordinary shareholders meeting of Atos held today, the company said in a statement.

As consideration for the contribution, Siemens has received shares of Atos representing 15 per cent of the share capital of Atos as well as bonds convertible into new or existing shares of Atos representing a nominal amount of 250 million euro and a cash payment of 176 million euro.

Roland Busch, Member of the Managing Board of Siemens AG, has been appointed member of the Board of Directors of Atos.

The shareholders of Atos also approved change of company name from Atos Origin to Atos.

The deal creates a new company which as per 2010 record has annual revenues of 8.7 billion euro and 78,500 employees spread across 42 countries.