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Atos to Acquire Xerox’s IT Outsourcing Business for $1.05B

acquisitionAtos has agreed to acquire Xerox‘s (NYSE: XRX) information technology outsourcing business to Atos for $1.05 billion with $50 million in additional consideration.

The companies expect to close the transaction in the first half of 2015  and Aton will provide IT services to Xerox as part of the deal,  Xerox said Thursday.

Xerox’s ITO’s leadership team will join Atos and Xerox’s ITO customers will have access Atos’ global IT services after completion of the transaction.

Xerox expects 2014 earnings per share of 87-to-89 cents and adjusted earnings per share of $1.04-to-$1.06 from continuing operations as a result of the ITO sale.

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