In France there are calls for parts of Atos to be nationalized, at least temporarily. This affects the old Atos, but also the new offshoot Eviden.

French parliamentarians call for the nationalization of Atos. They do this due to a possible threat to the country’s national security. The question from Olivier Marleix (Les Républicains) and Philippe Brun (Parti Socialiste) is another setback for Atos, whose share price has plummeted over the last three years.

The technology company is navigating difficult waters. In 2022, it was split into two companies amid protests from half of the management team. A piece called Atos survived and contains this Atos Tech Foundations (ATF) branch, which includes data center, hosting, digital workplace and unified communications. These components are declining in the current market environment. The growth branch became Eviden. Eviden encompasses digital, big data and security components and recently won a contract to build Europe’s first exascale supercomputer.

Deal with Kretinsky

Both Atos (ATF) and Eviden are looking for investors. EP Equity Investment, which is owned by Czech billionaire Daniel Kretinsky, among others, wants to participate. The French consider this problematic given the activities of ATF and Eviden. Atos built supercomputers for France for nuclear weapons development, and provides, among other things, cybersecurity and the integration of defense systems. Atos also manages the French army’s telephone system, as well as surveillance software and even emergency services. Such tasks are crucial and, according to Marleix and Brun, should not be left in the hands of others.

The intention is not to nationalize all of Atos forever, but perhaps to take certain parts into the hands of the government if they are too sensitive. However, a source within the French government told Reuters that nationalization was not on the agenda. In any case, the stock fell to its lowest level in more than twenty years, putting the deal with EP Equity Investment and Kretinsky in jeopardy.