Atos receives Airbus offer for minority stake in security business Evidian

The French group said it is now in the next phase of talks with the world’s largest aircraft builder

Change is in the wind for troubled French services giant Atos after receiving a minority stake offer in its security business from the world's largest aircraft manufacturer Airbus.

Rumours spread in January that the aerospace giant had set its sights on Evidian, Atos' soon-to-be spun-off digital, big data and security focused company.

Around a year ago French defence powerhouse Thales threw its name into the ring to snap up Evidian in a reported $3bn (€2.6bn) offer.

While French rival, onepoint and British private equity fund ICG faced rejection from Atos with their €4.2bn deal.

This latest offer comes in the shape of a 29.9 per cent minority stake in Evidian alongside what Atos has dubbed a long-term strategic and technological agreement.

Atos prices Evidian at around €7bn, valuing a 29.9 per cent share stake in the business at €1.2bn, according to Reuters sources.

Since the approach that was made in January, Atos said its board of directors has decided to further engage with Airbus, conduct a due-diligence process and negotiate on mutually satisfactory terms.

However, the Paris-based company said it does not intend to grant any exclusivity to Airbus, and no assurances can be made that the parties will successfully negotiate and enter into a definitive set of agreements.

It added that Atos remains committed to examining received indications of interest from partners that can support a major financial and industrial project.

"Airbus' interest in becoming an anchor shareholder is an acknowledgement of Evidian's unique capabilities in an increasingly complex digital environment with heightened security challenges," said Atos chairman of the board, Bertrand Meunier.

"Through this proposed large-scale partnership, we would accelerate Evidian's industrial project and future growth while ensuring technological sovereignty in France and in Europe in the critical fields of cloud, advanced computing, cybersecurity and digitalisation.

"Atos, including Evidian's teams, and Airbus have a long history of collaboration and share common values, and, going forward, they would continue to foster innovation and excellence."