UPDATE 3-Atos to buy Bull in all-French IT services deal
(Writes through with industry background, Orange backs deal)
* Latest chapter in emblematic computing brand's history
* Offer is 30 pct premium to 3 month average share price
* Targets fast-growing cloud computing market
* Major shareholders on board
By Andrew Callus and Gwénaëlle Barzic
PARIS, May 26 (Reuters) - Atos plans to buy fellow French IT services firm Bull to strengthen its position in the fast-growing cloud computing services sector in the latest rebirth for a brand which recalls the earliest days of computer electronics.
At 4.90 euros a share for a total of 620 million euros ($845 million), the agreed takeover bid announced on Monday represents a 30 percent premium to the three-month weighted average share price of Bull, once known as Compagnie des Machines Bull. The deal would also boost Atos' presence in cybersecurity, another high-growth segment.
The combination is expected to deliver some 80 million euros annually in cost savings within two years, equivalent to almost a third of Atos' net profit last year. Continuación...