Siemens sells IT unit Solutions to Atos Origin in €850m deal

first_img Share FRANCE’S Atos Origin will acquire Siemens’ IT unit Solutions and Services (SIS) in an €850m (£721.1m) deal, the German conglomerate said late yesterday.“We are creating a European Champion,” Siemens chief executive officer Peter Loescher said.The deal is expected to have a “considerable negative earnings impact” in Siemens’ fiscal 2011, it said in a statement. The deal is structured in order to be short-term accretive on the earnings per share for Atos Origin, it added.The deal caps efforts by Europe’s biggest engineering company to spin off its money-losing IT unit and paves the way for Atos Origin to reach a global scale.Following this deal, Atos Origin will become a major league player in cloud computing, which Siemens said will be a major growth driver in future. The combined group will have pro forma revenues of around €8.7bn, making it the largest in Europe. KCS-content whatsapp whatsapp Siemens sells IT unit Solutions to Atos Origin in €850m deal center_img More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Tuesday 14 December 2010 8:53 pm Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGem Tags: NULLlast_img

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