25 October 2014

Atos to spin off payments business

21 February 2013  |  8584 views  |  0 cash

IT services group Atos is to spin off its transactional services business to create a dedicated entity serving the evolving European payments landscape.

The carve out, which is expected to be finalised by mid-2013, will reveal a new business that generated EUR1.1 billion in revenue and EUR165 million in operating profit in 2012.

Atos says the new entity will be a "European leader" in the payment space with a more integrated and efficient management of operations.

"It will provide the strategic and financial flexibility to expand its product offerings across the entire transaction value chain including alliances and partnerships," says the company in a statement.

Atos has already begun consultations with labour unions over the implications of the move for staff.
KeywordsFINDEX

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

17 September, 2012
07 September, 2012
31 August, 2010
03 September, 2009

Related company news

 

Featured job

£Six figure package
Central London

Find your next job