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Atos Origin to acquire Siemens' IT services division

Atos Origin intends to buy the IT services arm of Siemens in a deal valued at 850 million euros (US$1.14 billion), the companies have announced.

One of the ideas behind the deal is to strengthen cloud provision by the companies, which will attempt to create a "European champion in the IT industry", Atos Origin chief executive Thierry Breton told a press call on Wednesday.

"We will be number two in Europe for managed services, and we are committed to becoming the leader in cloud computing in Europe," Breton said. "IBM will become our main competitor."