Following a Reuters news release, European IT services vendor Atos confirmed it had submitted to the Board of DXC an unsolicited non-binding offer to acquire the firm. The offer is at a preliminary stage. Reuters estimated Atos’ offer to USD 10bn.
Globallogics made an acquisition in IT services with ECS. ECS brings precious digital capabilities including cloud and agile/DevOps.
Alten is to make its largest acquisition, with Milan-headquartered SDG Group. SDG has revenues of EUR 76m and a headcount of 950. Its operating margin is ~10%. We estimate the price paid by Alten to ~EUR 60m.
The US Federal Reserve yesterday lowered “the target range for the federal funds” by 50 bps to 1%-1.25%. Although the “fundamentals of the US economy remain strong,” “the coronavirus poses evolving risks to economic activity,” communicated the Fed.