Atos is going to spin off its activities in the field of payment services. With the spin off of Atos Worldline and other specific transactional businesses Atos creates a dedicated entity that will serve the European payments landscape. According to Atos CEO Thierry Breton the new entity will be a "European leader" in the payment sector. The carve-out is expected to be completed by mid this year. This was announced by the IT consulting firm late last week during the presentation of the annual results.
The division reported a turnover of € 1.1 billion and € 165 million in operating profit last year. The measure should provide Atos with more divisional strategic and financial flexibility said CEO Thierry Breton.
The preparations for the privatization have already started. Atos has already begun consultations with labour unions over the implications of the move for staff.