Atos Continues Acquisitions Adding Three More Companies, Q1 Sales Drop
French IT consulting group - Atos announced that it had acquired three more companies on Tuesday - all part of its series of acquisitions, while reporting a drop in its Q1 revenue. The group said it had bought Canada-based Processia, UK-based Ipsotek and a German cybersecurity firm - Cryptovision. Deals are expected to close in the second and third quarters.
Atos - a developer of end-to-end solutions in hybrid cloud, big data, business applications and digital workplace has completed a whole series of bolt-on acquisitions in 2020 in an attempt for its mid-term revenues to reach a 65% share in digital, cloud, security and decarbonisation.
The group’s Q1 revenue, however, came 1.9% below last year's figure at 2.69 billion euros. The company commented that it would conduct a full accounting review of the two US legal entities and would give a status update at the time of first half results on July 28. Earlier in April, the firm made an announcement that auditors found accounting errors at those units, leading the shares to slump 18%.
Atos confirmed its full-year guidance of revenue growth of 3.5% to 4% and an operating margin of between 9.4% and 9.8%.
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