* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Monday, June 30, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

    George Lopez is coming to Spokane – KXLY.com

    George Lopez is coming to Spokane – KXLY.com

    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    New center coming to Mizzou will focus on energy research and technology – Columbia Missourian

    Mizzou Launches Innovative New Center Dedicated to Energy Research and Technology

    Mirrors in space and underwater curtains: can technology buy us enough time to save the Arctic ice caps? – The Guardian

    Can Technology Like Space Mirrors and Underwater Curtains Buy Us Time to Save the Arctic Ice Caps?

    Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

    Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

    Emerging Memory and Storage Technology Market Analysis Report 2025-2034 | AI and HPC Boom Fuels Surging Demand for Fast, Low-Power Memory Devices – Yahoo Finance

    How AI and HPC Are Driving Explosive Growth in Fast, Low-Power Memory Technologies Through 2034

    Ostin Technology (OST): Volatility’s Warning or Contrarian Opportunity? – AInvest

    Ostin Technology (OST): Navigating Market Volatility – Red Flag or Hidden Opportunity?

    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

    George Lopez is coming to Spokane – KXLY.com

    George Lopez is coming to Spokane – KXLY.com

    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    New center coming to Mizzou will focus on energy research and technology – Columbia Missourian

    Mizzou Launches Innovative New Center Dedicated to Energy Research and Technology

    Mirrors in space and underwater curtains: can technology buy us enough time to save the Arctic ice caps? – The Guardian

    Can Technology Like Space Mirrors and Underwater Curtains Buy Us Time to Save the Arctic Ice Caps?

    Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

    Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

    Emerging Memory and Storage Technology Market Analysis Report 2025-2034 | AI and HPC Boom Fuels Surging Demand for Fast, Low-Power Memory Devices – Yahoo Finance

    How AI and HPC Are Driving Explosive Growth in Fast, Low-Power Memory Technologies Through 2034

    Ostin Technology (OST): Volatility’s Warning or Contrarian Opportunity? – AInvest

    Ostin Technology (OST): Navigating Market Volatility – Red Flag or Hidden Opportunity?

    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Technology

IT giant Atos faces collapse if restructuring talks fail

June 28, 2024
in Technology
IT giant Atos faces collapse if restructuring talks fail
Share on FacebookShare on Twitter

French IT giant Atos is facing financial problems that could affect the ability of its UK arm to deliver key government contracts, including those related to NHS records in hospitals


Sebastian Klovig Skelton

By

Sebastian Klovig Skelton,
Data & ethics editor

Published: 27 Jun 2024 15:45

Key government technology supplier Atos is facing “material uncertainty” over its ability to continue trading, auditors have warned in the wake of a $5bn debt revelation.   

In the latest accounts for the British arm of French IT company Atos, auditors from Grant Thornton said the financial problems facing its parent company could limit its ability to access cash and “continue as a going concern” if its refinancing efforts fall through.

As one of UK government’s 40 strategic suppliers, which hold up billions of pounds worth of contracts between them, Atos provides IT systems to a range of government departments and public bodies, including the Home Office, the Department for Work and Pensions, and the NHS.

According to data cleaning startup Tussell, Atos holds 43 active government contracts amounting to almost £1bn of revenue. This includes for work related to disability benefit assessments, managing NHS appointments and hospital records, various file sharing systems, and software testing.

While the wider Atos Group has been undergoing business transformation exercises since June 2022, taking steps to divest itself of non-core business units, it announced in April 2024 that it was looking at financial restructuring offers to stabilise its finances, after revealing it has a total debt of nearly $5bn.

The auditors noted that Atos “cannot rule out that the outcome of those discussions may be unsuccessful or that the solutions arising from those discussions prove insufficient to cover the group’s financing maturities and cash requirements on a long-term basis,” adding that the situation casts “significant doubt” on the firm’s future.

In its 2023 results, Atos UK added that if the parent company fails to successfully renegotiate its loans or sell its assets, the UK arm could end up being unable to settle its own liabilities. “Atos will inform the market in due course of the progress of the refinancing discussions with its financial creditors, its contemplated disposals, as well as any potential changes in its capital structure arising from a final global refinancing agreement, including the issuance of new equity, which will likely result in a dilution of the existing shareholders,” it wrote.

Atos said on 26 June that a rescue bid led by IT consultancy Onepoint – the company’s largest shareholder – fell through after it withdrew a proposal that would have converted €2.9bn of Atos’s debt into equity and injected €250m of new funds into the struggling company.

However, Atos added that it had restarted talks with Czech billionaire Daniel Křetínsky about a previous restructuring proposal, and that it has also received a revised restructuring plan from a group of its bondholders.

An Atos spokesperson said: “Atos is currently undergoing a financial restructuring, which will create a stable financial future globally and in the UK.

“The provision of services to our customers has remained unaffected, and we will continue providing high-quality services to the UK public and private sectors, as we have for over 30 years.”

According to a report in The i, the Cabinet Office has been working on contingency plans since February to figure out how key contracts can be protected if Atos fails to recover, which includes potentially brining in alternative IT suppliers.

“With the collapse of the current refinancing and restructuring talks, even with new investors reported as starting negotiations, Atos’s future looks precarious,” said Mark Lewis, a specialist IT outsourcing lawyer at Stephenson Harwood.

“The UK government – and other Atos public and private sector customers – are, and are obviously right to be, making contingency plans,” he said. “And if customers haven’t yet made them, they should be, and now. How effective those plans will be in execution is critical. It’s a highly complex paper and operational exercise to deliver successfully.”

Read more on Managing IT and business issues


Wales partners with OpenAI to improve Welsh language tech

LisEvenstad

By: Lis Evenstad


FluidOne refinances to support growth ambitions

By: Simon Quicke


Atos opens Olympics operations hub

JoeO’Halloran

By: Joe O’Halloran


Mitel’s move for Unify will bolster UC pitch for its channel

By: Simon Quicke

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Computer Weekly – https://www.computerweekly.com/news/366591916/IT-giant-Atos-faces-collapse-if-restructuring-talks-fail

Tags: facesgianttechnology
Previous Post

Resemble AI’s next-generation AI audio detection model, Detect-2B, is 94% accurate

Next Post

Council denies planning bid for datacentre near M25 a second time on Green Belt grounds

New center coming to Mizzou will focus on energy research and technology – Columbia Missourian

Mizzou Launches Innovative New Center Dedicated to Energy Research and Technology

June 30, 2025
Atlanta Dream Dealt Concerning Loss During Liberty Game – Yahoo Sports

Atlanta Dream Faces Crushing Defeat in Thrilling Liberty Clash

June 30, 2025
More than 1,800 National Science Foundation workers abruptly kicked out of agency headquarters – Space

Over 1,800 National Science Foundation Employees Suddenly Evicted from Agency Headquarters

June 30, 2025
Scientists Retrace 30,000-Year-Old Sea Voyage, in a Hollowed-Out Log – The New York Times

Scientists Successfully Recreate Epic 30,000-Year-Old Sea Voyage in a Hollowed-Out Log

June 30, 2025
Tom Brady Ditches Sneakers Lifestyle For Jeff Bezos & Lauren Sánchez’s Wedding – Yahoo

Tom Brady Swaps Sneakers Lifestyle for Glamorous Jeff Bezos and Lauren Sánchez Wedding Celebration

June 30, 2025
Chivu Confirms France Star Fit For Inter Milan Vs Fluminense Club World Cup Clash – Yahoo Sports

Chivu Confirms France Star Ready for Inter Milan’s Club World Cup Showdown Against Fluminense

June 30, 2025
Trump’s tariffs damage the US economy more if they drive investors away from American assets – Peterson Institute for International Economics

How Trump’s Tariffs Could Backfire by Driving Investors Away from American Assets

June 30, 2025
Surprising New Study Links Daytime Napping to Hidden Health Risks – Prevention

Surprising New Research Uncovers Hidden Health Risks of Daytime Napping

June 30, 2025
The 1975’s Matty Healy Says ‘We Don’t Need More Politics’ at Glastonbury – Variety

The 1975’s Matty Healy Declares “We Don’t Need More Politics” at Glastonbury

June 30, 2025
Mirrors in space and underwater curtains: can technology buy us enough time to save the Arctic ice caps? – The Guardian

Can Technology Like Space Mirrors and Underwater Curtains Buy Us Time to Save the Arctic Ice Caps?

June 29, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (700)
  • Economy (724)
  • Entertainment (21,613)
  • General (15,630)
  • Health (9,763)
  • Lifestyle (729)
  • News (22,149)
  • People (725)
  • Politics (730)
  • Science (15,941)
  • Sports (21,221)
  • Technology (15,709)
  • World (704)

Recent News

New center coming to Mizzou will focus on energy research and technology – Columbia Missourian

Mizzou Launches Innovative New Center Dedicated to Energy Research and Technology

June 30, 2025
Atlanta Dream Dealt Concerning Loss During Liberty Game – Yahoo Sports

Atlanta Dream Faces Crushing Defeat in Thrilling Liberty Clash

June 30, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version