Atos to acquire Siemens' IT division

In a move that is sure to shake up the global information technology (IT) sector, Atos announced this week that it has completed its acquisition of Siemens IT Solutions and Services, according to published reports.

Atos, which is an international IT services firm, said that it had completed its planned acquisition of Siemens' IT Solutions and Services division this month. That move, according to analysts, will effectively create one of the world's largest and most influential IT firms, with Atos' workforce and research and development arms gaining major traction with the additional support of Siemens' existing staff.

The deal was overwhelmingly approved by Atos' shareholders. Atos also said in a statement that it has signed one of the biggest IT outsourcing deals with Siemens worth nearly $8 billion over the course of the next seven years to take over management of all IT infrastructure, applications and services.

"Today is a momentous day for our company as we embark on the next chapter in our history to become a top 10 global IT services provider," Atos chief executive Thierry Breton said. "The combination of Atos Origin & Siemens IT Solutions and Services marks an exciting evolution in the IT market. Our chance to make our mark, to write history with our clients, to introduce brand new ideas to the market, to continue powering progress."