French IT firm Atos makes $10 billion DXC bid approach

France’s Atos confirmed it has made a bid approach for U.S. rival DXC Technology in what would be the deal-hungry IT consulting group’s biggest ever acquisition.
Atos issued a statement confirming a Reuters report that is seeking to buy DXC in what it said was a “friendly transaction” to create a digital services powerhouse with a global presence.
The French firm, led by chief executive Elie Girard, made a formal approach to DXC this week valuing the New-York listed company at more than $10 billion including debt, two sources told Reuters on condition of anonymity.
DXC did not respond to requests for comment.
Atos is working with advisers on the potential offer for the former Hewlett Packard Enterprise business, which would boost its presence in the United States, giving it access to a wide range of clients and B2B products including analytics and cloud applications as well as IT outsourcing services.
Discussions are still at a preliminary stage and there is no certainty that a deal will be agreed, the sources said.