With the offer of €410 million ($466.33 million), the French government is attempting to purchase pieces of Atos’ Advanced Computing branch in order to protect and preserve France’s important technological assets. This move reveals how France is committed to securing strategic technology investments amidst shifting geopolitical and technological tides. Atos is expected to receive this amount during its planned divestiture in 2026 and then they can start making changes to their business strategy. This will allow Atos to regain some of the glory they enjoyed earlier as a tech champion in Europe instead of the financially crippled company they are seen as today.

Europe Tech’s Behemoth Hit with A Restructuring Reality Check

Atos’ transformation has been nothing short of astonishing to witness. Once a company clocking in with a market capitalization exceeding €10 billion, Atos’ relentless slide into debt-strained financial turmoil left the firm grappling with a total capitalization of only €3 billion. Being forced to accept a restructuring deal with creditors heavily impacted business operations in 2024 and helped stabilize Atos. This restructuring has been significant in allowing the company to concentrate on core competencies by shedding non-core advanced computing division assets. These parts include the High-Performance Computing (HPC) segments of Quantum computing, Business Computing, and the Artificial Intelligence (AI) branches which are vital components of Atos’ portfolio. The Advanced Computing focus is expected to bring in an estimated €800 million by 2025 showcasing the company’s massive importance in the tech sector.

According to the French state’s offer, an enterprise value of €410 million is assigned to the Advanced Computing unit, which contains earn-outs of up to €110 million for achieving certain profitability milestones during the fiscal years 2025 and 2026. Out of this contingent amount, €50 million is considered guaranteed to be paid at the close of the deal while the remaining €60 million is contingent on future financial performance. Furthermore, it should be emphasized that the transaction does not include Atos’ Vision AI activities which are mostly covered by the Ipsotek subsidiary they bought in 2021. Rather, Vision AI will be moved to Atos’ Eviden business unit which is centered on AI, Data, and Security. This change is consistent with Atos’ strategic objective of wanting to increase their AI capabilities and divest from the Advanced Computing sale. The Board of Directors at Atos has accepted the offer since it is accompanied by an independent expert report stating the valuation and terms of the deal are within fair market range. Consultations with employees in connection to corporate regulation as well as some legal hurdles must be cleared before putting the agreement into writing, which is predicted to happen within the next few weeks.

Significance of the Deal for France

The French government’s involvement in the issue shows a greater effort of trying to protect technology resources which are important for national security, as well as the need to protect industrial competitiveness. Atos’ Advanced Computing division is critically important to civil nuclear power, military communication sectors, and any data processing infrastructural domain where technological autonomy is very important. Minister of Finance Bruno Le Maire has stressed the willingness of France to use “all possible means” to allow France to retain strategic technology concerns within its boundaries. This acquisition serves that policy well by ensuring essential computing power will not be lost to competing nations. 

The recently made deal helps Atos with some much-needed funds, thus helping the company to recover financially post restructuring in 2024. As of May 29, 2025, Atos SE shares were trading at approximately €38, with a market capitalization of €716 million. This is a far cry from its peak market capitalization of more than €10 billion just a few years ago in 2020, which is why investors are expecting big returns if the plan is implemented. The sale of the Advanced Computing business, other than its Vision AI segment, helps Atos to further rationalize the company and focus on growth areas within Eviden. This restructuring will assist Atos’ financial strategy through 2028, as was presented during its Capital Markets Day in May 2025.

Impact on the Industry and Future Prospects

Both Atos and the French State will mark a new chapter in their history with the closure of the transaction in 2026. For Atos, the Tactical Maneuvers grant access to advanced computing, which will enable the government to take charge of a vital section of the high-tech ecosystem of the country. Moreover, the divestment will grant the autonomy to prioritize AI, cybersecurity, and digital transformation services through Eviden. This may also signal an increase in the trend of government involvement across Europe in tech sectors with national security implications. By acquiring Atos’ Advanced Computing assets, France is attempting to strengthen its position in the international landscape in the battle of technological innovation and sovereignty.

Atos’ former Advanced Computing business, along with the French state’s €410 million offer, further proves the importance that technology sovereignty holds in today’s geopolitical climate. It also marks a notable point in Atos’ financial recovery and operational realignment. For France, it is a prominent move to attain assets that are crucial for their industrial command and global dominance. As the partnership rolls out and the deals are finalized, everyone is expecting to see how Europe’s advanced computing future gets shaped by this partnership first.