London According to insiders, the French IT service provider Atos wants to swallow its US rival DXC Technology. Atos approached DXC this week with a more than ten billion dollar takeover bid, two people familiar with the plans told Reuters on Thursday. The French company, whose largest shareholder with a good eleven percent of the pension fund of Siemens wants to strengthen its presence on the American market with the takeover and hope for synergies. The talks are still at an early stage. DXC is from part of Hewlett Packard Enterprise emerged.
Atos and DXC were initially unable to comment on the information. While Atos shares in Paris expanded their price losses to 3.6 percent, DXC soared on the New Yorker Nyse pre-trading by 17 percent. Atos has been on a major acquisition spree for a year.
Siemens only extended its IT partnership with the French by five years in September and is paying a total of three billion euros to Atos during this time. The Munich-based group had sold its IT division SIS to Atos in 2011.
More: IT service provider Atos wants to become more profitable in Germany.