Atos, a global firm in digital services, on Wednesday announced that it has completed the acquisition of Xerox ITO reinforcing its position as a global company in digital services.
The net purchase price is about $966 million (€ 811 million), comprising $950 million and an additional amount of $50 million following the occurrence of certain events prior to closing, plus $100 million representing the estimated present value of future tax benefits to Atos.
Net debt items and closing adjustments amounted to $134 million to be confirmed within 90 days.
"Today marks a major step in the development of the Atos Group, as we welcome 9,600 Xerox ITO employees to Atos. With the US now our largest market, we have a stronger and more balanced global presence, which combined with our digital skills, allows us to be the trusted partner for our clients' digital journey anywhere in the world," said Thierry Breton, Chairman and CEO of Atos.
With circa $2 billion revenue, North America becomes the largest geography for Atos where it is now ranked number 9 in ITO services.
Since the announcement of the acquisition in December 2014, Atos and Xerox ITO teams have worked together to ensure operational readiness on the first day after closing. As a result, Atos now has the ability to offer its European and US clients the necessary presence to better support their digital transformation needs anywhere in the world.
Atos will leverage the Xerox ITO customer centric approach and Atos' industrial capacities and portfolio of cutting-edge services and technologies, particularly in Cloud, Big Data, cyber security and in High Power Computing to support clients handle the massive volumes of data generated in the digital world.
As announced at the time of signing, Atos on Wednesday entered into a worldwide strategic collaboration with Xerox – a global business services, technology, and document management company – to become one of Xerox's primary IT services providers.