Atos SE said it had agreed to buy Bull SA on Monday in an all-French IT sector deal worth 620 million euros ($845.2 million) aimed at creating Europe's biggest business in cloud operations and a leading cybersecurity company. At 4.90 euros a share, the offer represents a 30 percent premium to the three-month weighted average share price of Bull, the companies said, adding that they expected the deal to deliver 80 million euros annually in cost synergies.
Atos said the deal would enhance its offerings in mission-critical solutions for manufacturing, healthcare, and the public sector, and would reinforce its footprint, "mainly in France, but also in geographies such as Iberia, Poland, Africa and Brazil." "Bull will bring critical and complementary capabilities in big data which, combined with Atos solutions, will create a unique offering in this high-growth segment," the statement said.