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France's Atos Boosts US Presence With $3.4 Billion Syntel Acquisition (reuters.com)
French IT services company Atos is boosting its North American operations with a $3.4 billion cash deal to buy Michigan-based IT services provider Syntel. From a report: Atos, which provides IT services to sectors ranging from aerospace to retail, said the deal, announced Sunday, to buy Syntel will strengthen its activities in banking, finance and insurance and allow it to provide complete IT solutions to its U.S. customers. "[The deal] will significantly enhance [the Business & Platform Solutions Division's] growth and profitability profile through an extended digital services offering, cutting-edge India-based delivery platforms, as well as revenue and cost synergies," Atos Chief Executive Thierry Breton said in a statement.
You will face extreme layoffs, budget reductions, no raises, and just a general feeling of incompetence and wonder for a company with so much money.
In an acquisition like this one, the purchaser is not buying the company for the employees . . . it is buying the company for its existing customer base.
Despite what they may say publicly, the existing employees are excess baggage and costs that need to be cut, to finance the costs of the purchase.
Schroedinger's Brexit: The UK is both in and out of the EU at the same time!