IT firm Atos buys three more Companies while reporting a drop in revenue

IT firm Atos SE has acquired three more companies as the French IT consulting group continues its series of bolt-on acquisitions while reporting a drop in its first-quarter revenue.

The Atos Group said “We had bought Canada-based Processing, UK-based Ipsotek, and German cybersecurity firm Cryptovision. It gave no financial details of the transactions, and said the deals were expected to close in the second and third quarters.”

Atos accomplished 2020 a series of bolt-on acquisitions in a bid for its mid-term revenues to reach a 65 percent share in digital, cloud, security, and decarbonization.

Atos and US rival DXC Technology definite to discontinue talks about what would have been the deal-hungry IT referring group's biggest gaining to date, worth more than $10 billion.

The Paris-based firm, which develops end-to-end solutions in hybrid cloud, big data, business applications, and digital workplace, said its first-quarter revenue came 1.9 percent below last year's figure at €2.69 billion ($3.24 billion). Earlier in April, it disclosed that auditors had found accounting errors at those units, leading the shares to slump 18 percent Atos confirmed its full-year guidance of revenue growth of 3.5 percent to 4 percent and an operating margin of between 9.4 percent and 9.8 percent.

The group said it has decided to conduct a full accounting review of the two US legal entities and would give a status update at the time of first-half results on July 28.