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Funds News

EXCLUSIVE-French IT firm Atos makes $10 bln takeover approach for DXC - sources

LONDON, Jan 7 (Reuters) - French IT consulting group Atos SE has made a takeover approach to buy U.S. rival DXC Technology and values the NYSE-listed business at more than $10 billion, two sources with knowledge of the matter told Reuters.

Atos is working with advisers on a possible deal for DXC, a former Hewlett Packard Enterprise unit, and made a formal approach earlier this week, the sources said, speaking on condition of anonymity as the matter is confidential.

Discussions are still at a preliminary stage and there is no certainty that a deal will be agreed, they said.

If successful, a tie-up with DXC would boost Atos’ presence in the United States, giving it access to a wide range of clients and B2B products including analytics and cloud applications as well as IT outsourcing services.

It will also lead to synergies and cost savings for Atos, which has been on an acquisition spree over the past 12 months, the sources said.

Representatives at Atos and DXC were not immediately available for comment. (Reporting by Pamela Barbaglia in London; additional reporting by Mathieu Rosemain in Paris Editing by Rachel Armstrong)

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