Atos: a buyout that could cost him dearly

In 2018, Atos paid the tidy sum of 3.4 billion dollars to afford the American company Syntel, which specializes in the automation of development processes. Two years later, the bill could rise: an American court has thus condemned Syntel, and therefore by extension its parent company Atos, to pay a bill of $ 855 million for theft of intellectual property.

The Syntel case dates back to 2015. As The Register reports, Syntel entered into a partnership with TriZetto, an American company specializing in software and devices for the healthcare sector. One year after the start of this partnership, TriZetto was bought by Cognizant, a direct competitor of Syntel, and TriZetto then accused Syntel of the theft of industrial secrets within the framework of the past partnership. Syntel for its part blamed TriZetto for breaches of contract.

Atos was aware of the existence of this conflict in 2018 when it took over Syntel. Simply, the French company perhaps did not expect to receive such a heavy fine: in a press release, the company explains that it has filed an appeal to have the fine canceled, and reserves the right to do so. appeal if his first appeal was refused. “Atos considers that the jury’s verdict is not supported by the evidence presented during the trial or by the law in force. In addition, Atos considers that the amount of damages is largely out of proportion to the acts in question. As Atos argued at trial, the maximum amount of damages that TriZetto could claim in this case is around $ 8.5 million, ”the company said. It is therefore a hell of a rebate that Atos will have to negotiate with the American justice system, under penalty of seriously damaging its future profits.

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker