Atos acquires the Syntel computer company for a $ 3.57 billion contract

Atos has acquired Syntel for an amount of about $ 3.57 billion.

On Monday, the French digital transformation company announced that the acquisition of Syntel, an IT company based in Troy, Michigan, and the proprietary solutions recognized by top analysts as being among the most advanced: cloud, social media, mobile, analytics, Internet of Things (IoT) and automation. "

In addition, Atos says that the purchase, approved unanimously by the boards of directors of both companies will offer Atos the opportunity to expand its presence in the United States , with a special focus on banking, finance and insurance.

The acquisition was agreed for $ 3.4 billion, or $ 41 by Syntel share. See also: How Fortnite Approach analytics, the cloud to analyze petabytes of game data.

Founded in 1980, Syntel is an international computer company specializing in the development of basic computing applications, intelligent automation, cloud computing and development

Syntel hosts approximately 22,500 employees Syntel's CEO, Khanna Rakesh, will join Atos as a member of the executive committee.

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Atos believes that opportunities for revenue synergies. By achieving cross sales in Europe and the United States, Atos expects synergies to reach $ 250 million by the end of 2021.

"The highly complementary portfolio, customer base and geographic presence of The combination between Atos and Syntel will significantly enhance our presence, particularly in the North American market, and accelerate the digital transformation of Atos' customers, "said Thierry Breton, CEO of Atos. "I look forward to welcoming Syntel's 23,000 employees and their very strong leadership to continue delivering the greatest value to our customers and shareholders."

The transaction is expected to be finalized by the end of this year. end of 2018, subject to regulatory approval.

Syntel expects a turnover of $ 249.7 million and a diluted earnings per share of $ 0.49 on Thursday.

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