“Atos Origin sells PA-konsult to Bluegarden”
Atos Origin, a leading international technology company has signed an agreement to sell its Swedish human resource management and payroll services subsidiary – PA-konsult – to Bluegarden AS for a consideration of EUR 18 million. The transaction remains subject to normal regulatory approval and is expected to complete at the end of January 2005.
Atos Origin acquired PA-konsult as part of its takeover of Sema Group in January 2004. PA-konsult is a significant player in the Swedish market for human resource management (HRM) and payroll solutions. It offers a number of proprietary software products, together with related consulting, systems integration, education, training and service bureau facilities within the HRM and payroll area. The company is expected to generate revenues of approximately EUR 11 million in 2004 and employs just over 90 staff. Atos Origin will continue to own significant mainstream IT services operations in the Nordic region, with annual revenues of nearly EUR 200 million.
PA-konsult is being sold to Bluegarden AS for a consideration of approximately EUR 18 million, payable wholly in cash at completion. Bluegarden AS is one of the leading specialists in HRM support in the Nordic region and is owned by Ratos, a Swedish-listed private equity company.
Commenting on the disposal, Bernard Bourigeaud, Chairman of the Management Board and Chief Executive Officer of Atos Origin said: “This is a further step in our program of disposing of businesses that are not core to the Group’s mainstream strategy, which is to provide IT services to a base of large multinational clients on an increasingly global basis. We have great respect for Bluegarden’s position in the Nordic HRM market and wish the staff of PA-konsult good fortune under Bluegarden’s ownership”.
About Atos Origin
Atos Origin is an international information technology (IT) services company. Its business is turning client vision into results through the application of consulting, systems integration and managed operations. The company’s annual revenues are more than EUR 5 billion and it employs 45,000 people in 50 countries. Atos Origin is the Worldwide Information Technology Partner for the Olympic Games and its clients include ABN AMRO, Akzo Nobel, Alstom, BNP Paribas, Ericsson, EDF, Euronext, Fiat, France Telecom, ING, KPN, Philips, Renault, Royal Bank of Scotland, Saudi Aramco, Schlumberger, Shell, Standard Chartered Bank,Telecom Italia, UK Department for Work and Pensions, Unilever, Vivendi Universal and Vodafone.
Atos Origin is quoted on the Paris Euronext Premier Marché and trades as Atos Origin, AtosEuronext, Atos Worldline and Atos Consulting.
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