PARIS (Reuters) – Paris-based Butler Industries is joining a consortium to rescue struggling IT consultancy Atos, the company’s largest shareholder Onepoint said in a statement on Sunday.
Onepoint, which holds 11.4% of Atos, said last month it was ready to invest and organize the group’s capital restructuring to protect the integrity of its assets after plane maker Airbus aborted a deal to purchase the troubled company’s cybersecurity assets.
The consortium’s ambition is “to make Atos the European platform for digital, cybersecurity and artificial intelligence and the leading European cloud operator,” read Sunday’s statement.
David Layani, CEO of Onepoint, said he was pleased to have the support of investor Walter Butler, the founder of Butler Industries.
“It is strengthening our OneAtos project,” Layani said.
With debt of nearly $5 billion, Atos will hold a call with its creditors on April 8 as part of debt restructuring talks.
Atos’ cybersecurity unit hosts some of France’s strategic assets, including cybersecurity for the upcoming Paris Olympic Games, and authorities have said they are seeking legal ways to keep it under French control.