“Atos (ATO) of France offered to buy rival Bull (BULL) for about 620 million euros ($844 million), underscoring demand for cybersecurity and cloud-computing services.
Atos is bidding 4.90 euros a share in cash, 22 percent more than Bull’s May 23 closing price in Paris, the companies said today. Bull jumped to 4.88 euros at 2:28 p.m. local time, as Atos rose as much as 5.9 percent. The offer is recommended by both companies’ boards and owners of about 24.2 percent of Bull’s shares have agreed to tender their stock, Atos said.
Software companies such as Atos and Germany’s SAP AG (SAP) are using acquisitions to expand in cloud computing, or technology that allows data to be accessed remotely via the Web. The takeover will strengthen Atos’s business in areas such as super-computing — techniques used to analyze large amounts of data with complex mathematic algorithms — and cybersecurity. The companies reported combined revenue of almost 10 billion euros last year.
‘This deal reinforces us in key segments like cybersecurity and cloud computing, which have double-digit growth potential,’ Atos Chief Executive Officer Thierry Breton, who worked at Bull from 1993 to 1997, including as vice chairman, said during a press conference in Paris.”
Read the rest of the story at, Atos Offers $844 Million to Buy Bull in Cybersecurity Push – Bloomberg.