Atos Group, a global enabler in digital transformation, has entered into exclusive negotiations with Schneider Electric for the sale of 100% of EcoAct SAS and its subsidiaries (“EcoAct”).
With this potential transaction, Atos would secure its divestment program of non-core assets while engaging in a strategic partnership with Schneider Electric on decarbonization.
EcoAct is an international leader in climate consulting and NetZero solutions offering a unique portfolio of services which covers the entire Net Zero transition value chain, from planning and forecasting to carbon offsetting. The company generated revenues of approximately €70m in FY22 and currently employs close to 400 people.
The proposed transaction does not include Atos’ digital Net Zero Transformation practice (part of Eviden business), dedicated to supporting its customers in all industries to catalyze their decarbonization goals, which will be kept within the Atos Group. Atos would also cooperate closely with Schneider Electric combining Technology and Sustainability expertise to build products and solutions that enhance its customers’ paths to NetZero. Atos remains highly committed to its own sustainability engagements which are set to achieve net zero carbon emissions by 2039.
This proposed transaction, in addition to the ongoing divestments already engaged, would allow Atos to complete its divestment program ahead of the schedule announced at the Group’s Capital Markets Day on June 14, 2022.
“We are very pleased with this proposed transaction, after which we would have secured more than 100% of our divestment program and delivered on our commitment. Our transformation plan has already showed encouraging performance results, and we have further reinforced our clients’ confidence in our ability to accompany them in their digital challenges” said Diane Galbe, Senior Executive Vice President, Atos “Digitization and decarbonization are key for all businesses today. Thanks to this future partnership with Schneider Electric we look forward to developing leading edge offers to accelerate customers’ journeys to NetZero.”
Steve Wilhite, President, Sustainability Business at Schneider Electric said “Demand for sustainable goods and services is rapidly increasing as businesses navigate the challenges posed by climate change, the energy crisis, and investor and regulatory pressures. The solutions to these challenges are complex to navigate. By combining forces with EcoAct, we would expand our team of world-class sustainability consultants and our ability to deliver strategic value to our clients, accelerating the transition to the carbon-free energy future.”
Stuart Lemmon, Global Head of EcoAct, said “I am excited for EcoAct to potentially join Schneider Electric and to continue to grow our ability to lead clients through challenges at the heart of the energy and resource transition. I believe this transaction could provide fantastic opportunities to our talented and passionate ‘EcoActors’ and look forward to the promising future ahead.”
The potential transaction remains subject to the information and consultation of the relevant employee representative bodies of Atos and Schneider Electric, to the agreement and signing of the definitive documentation and to other customary regulatory approvals. The potential transaction is expected to be closed in H2 2023.