Airbus has given up on its plans to acquire a 29.9 per cent minority stake in French services giant Atos’ security business.
The company claimed the move does not meet objectives “in the current context and under the current structure”.
According to the Financial Times, Airbus surrendered to pressure from billionaire hedge fund manager, Chris Hohn to pull its bid on Evidian.
Atos has entered negotiations to sell its unified communications and collaboration (UCC) services business, Unify, to Canadian vendor Mitel.
The talks are part Atos’ divestment programme announced during its Capital Markets Day in June 2022.
The plan involves its separation into two publicly listed companies – Evidian, which would bring together its digital transformation, big data and cybersecurity services; and Atos (formerly TFCo), which would make up managed infrastructure services, digital workplace and professional services.
Hacker typing on a laptop
IT services giant Atos share price shot up after there were rumours that Airbus was snuffling around looking to buy its cybersecurity unit.
The group is reportedly in preliminary talks with Airbus to take a minority take in its Evidian business.
For those who came in late, Evidian is Atos’ Identity and Access Management software suite.
Last year the group announced plans to split into two publicly listed companies by spinning off its cybersecurity business under Evidian.
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