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As part of the agreement's terms, Siemens has received 15% of Atos' share capital as well as convertible bonds, representing a nominal amount of 250mn euros (US$362mn), and a cash payment of 176mn euros.
The acquisition will double Atos' storage capacity and processes for cloud computing, with now more than 30 worldwide data centers, 900,000 SAP users and 90,000 global servers.
Atos has also secured a seven-year contract for 5.5bn euros with Siemens to provide the company with all IT services, including IT infrastructure, applications and services.
With this deal, Siemens becomes Atos' biggest client. Both companies also signed a strategic agreement to develop new IT products and solutions, in a deal that will see Atos and Siemens investing 50mn euros each.
The agreement creates a new company that as per 2010 record has annual revenues of 8.7bn euros and 78,500 employees spread across 42 countries.
Roland Busch, member of the managing board of Siemens AG, is now a member of Atos' board of directors. Atos' shareholders also approved the change of the company's name from Atos Origin to Atos.