French Finance Minister Bruno Le Maire Takes Steps to Acquire “Sovereign Activities” of Tech Giant Atos

French Finance Minister Bruno Le Maire recently announced his intention to acquire the “sovereign activities” of French tech giant Atos, which is burdened with nearly five billion euros of debt. Atos, a key player in running supercomputers for France’s nuclear deterrent and holding important contracts with the French army, is also the designated IT partner for the upcoming Paris Olympics. With such significant financial troubles, concerns regarding cybersecurity at the Paris Olympics, scheduled from July 26 to August 11, have been on the rise.

Minister Le Maire’s decision to acquire Atos’ sovereign activities aims at preventing foreign ownership of these strategic assets. By sending a letter of intent over the weekend, Le Maire expressed his desire to acquire all activities that are deemed vital for national security. These activities include supercomputers, servers utilizing artificial intelligence and quantum computing, as well as cybersecurity products. Together, these activities contribute around 900 million euros to Atos’ total annual turnover of approximately 11 billion euros.

In an effort to stabilize Atos, the French state has already provided a 50-million-euro loan to the tech giant and acquired a preferential share that grants oversight of its critical big data operations. This move signifies a step towards safeguarding the interests of the country’s technological infrastructure and ensuring that essential services are not compromised. Furthermore, discussions have been ongoing with various industrial groups to explore potential collaborations and solutions to the financial crisis Atos is facing.

The acquisition of Atos’ sovereign activities not only aims at protecting France’s technological sovereignty but also seeks to secure jobs for the approximately 4,000 staff, most of whom are based in France. By retaining control over key technological assets, the French government can mitigate potential risks associated with foreign ownership and safeguard sensitive data and operations crucial for national security.

Minister Le Maire’s decision to acquire Atos’ sovereign activities reflects a proactive approach towards protecting national interests and ensuring the stability of a critical player in the tech industry. By intervening in the financial woes of Atos, the French government demonstrates its commitment to safeguarding national security, technological infrastructure, and local employment.