Atos Origin SA is selling its Australian operation to Fujitsu Corp for an undisclosed sum, as part of the company’s disposal plan aimed at reducing its debt.
Paris, France-based Atos Origin said that the operation to be sold has over 140 employees and annual revenue of around 20 million euros ($25.2 million). The unit was originally formed from the captive operations of Philips Electronics, which Atos Origin acquired through its takeover of Origin NV in 2000.
As part of the deal, Fujitsu will continue to support Atos Origin’s clients in Australia and New Zealand. Fujitsu ranks as the seventh largest IT services vendor in Australia behind market leader IBM, and EDS, Unisys, CSC, HP and Telstra.
Atos Origin’s net debt fell from 700 million euros ($848 million) at the end of 2003 to 676 million euros ($819 million) at the end of June 2004, and it expects this to fall below 550 million euros ($666 million) by the end of this year.