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04/2026100%

Atos Advanced Computing acquired by Agence des Participations de l'Etat (APE)

FRANCE IT Services / Consulting & Integration / Data & AI Consulting EV €300–700M

Context

The French State submitted acquires 100% of Atos's Advanced Computing activities (carved out from the BDS division). The transaction is part of Atos's broader accelerated safeguard financial restructuring plan, approved by the commercial court on October 2024. A previous non-binding offer from the French State had covered a wider perimeter including Mission Critical Systems and Cybersecurity Products, but the final offer was narrowed to Advanced Computing only. Separately, Atos commits to launching a formal sale process for its remaining BDS assets — Cybersecurity Products and Mission Critical Systems. An independent expert will be appointed to validate that the transaction terms reflect fair market value, as agreed with financial creditors.

Atos Advanced Computing, which reported an EBITDA margin of [members only] in 2025, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (14.6x in 2026).

-> Deep-dive in TMT (Tech, Media, Telecom) market trends

Target

Atos Advanced Computing is a strategic technology division carved out from the BDS (Big Data & Security) segment of Atos SE, one of Europe's largest IT services groups. The business is structured around two core sub-divisions: (1) High-Performance Computing (HPC) & Quantum, which designs, builds and operates some of the most powerful supercomputers in Europe — including systems deployed for national research agencies, weather forecasting institutions, and defence bodies — and is actively developing quantum computing capabilities positioning it at the frontier of next-generation computing; and (2) Business Computing & Artificial Intelligence, which provides advanced AI-powered computing infrastructure and services to large enterprises and public sector clients.

Ent. Value

€300–700M

Equity Value

[members only]

Multiples

EV / Revenue

below 1.5x

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2025
€450–900M
[members only]
[members only]
2024
€450–900M
[members only]
[members only]

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REFERENCES

Valuation range: EV €300–700M

Revenue range: €450–900M

EV/Revenue range: below 1.5x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Atos Advanced Computing by Agence des Participations de l'Etat (APE) are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Target: atos advanced computing

Acquirer: agence des participations de l'etat (ape)

FAQ

What transaction does this page cover?

This page covers Agence des Participations de l'Etat’s acquisition of 100% of Atos Advanced Computing, a French company specialised in Consulting & Integration, in 2026.

How was the acquisition of Atos Advanced Computing by Agence des Participations de l'Etat valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €300–700M band and its EV/revenue multiple within the below 1.5x range. Exact figures are available to members.

What was Atos Advanced Computing’s revenue at the time of the deal?

At the time of the transaction, Atos Advanced Computing’s annual revenue was estimated within the €450–900M range (FY 2025). Detailed financial figures are available to members.

How does the valuation of Atos Advanced Computing compare to benchmarks in the TMT (Tech, Media, Telecom) sector?

Transaction multiples for this specific deal are exclusively reserved for mynth members. Nevertheless, transactions tracked by mynth in this sector reveal an average benchmark multiple of 14.6x EBITDA during 2026.

What sources support the information on this transaction?

The details of this transaction are sourced directly from the official corporate announcement published on the parties’ institutional website, ensuring primary-source verification of the closing and perimeter.

What is mynth?

mynth is the first free M&A database dedicated to Small & Mid-Cap transactions. We centralize Enterprise Values, revenue multiples, EBITDA multiples and transaction financials that are typically locked behind five-figure subscriptions on platforms like Capital IQ or Mergermarket. On mynth, searching and browsing deals is completely free. Our mission is simple: make professional-grade valuation intelligence accessible to every M&A advisor, independent consultant, Private Equity professional and student, without the burden of expensive annual licenses.