According to a statement released by Atos officials on Monday, France made a non-binding offer to purchase the company’s activities, which included its cyber products and supercomputer divisions. The transaction valued those divisions at between €700 million ($750 million) and €1 billion. Atos’ stock increased 16% to €2.21 in Paris at 10:09 a.m. The firm’s high-yield notes continued to rise, with its €350 million bonds due 2028 increasing 0.7 cents on the euro to 24.7 cents.

Following a first-quarter performance negatively impacted by clients delaying contract signing, the Paris-based company amended an earlier strategy seeking money to support the business and reduce debt before the government intervened. Before facing a string of difficulties, including earnings warnings and accounting problems, Atos was one of France’s leading tech corporations.

On Monday, Atos increased its request from €1.2 billion to €1.7 billion. In addition, it wants to cut its debt from a previous target of €2.4 billion to €3.3 billion.

In a press conference on Sunday, Finance Minister Bruno Le Maire stated that should the offer be accepted, the French government plans to form a partnership of private enterprises. He stated that they would all be French, although he did not name the firms. “The goal is that the strategic activities of Atos stay under exclusive French control.”

Given Atos’ crucial position as a provider of IT services to the nation’s nuclear and defence industries, as well as for cybersecurity at the summer’s Paris Olympics, the government was forced to step in for national security.

A group of investors with around 30% of the bonds spread across various maturities were developing a plan for restructuring. Additionally, shareholder David Layani and Czech billionaire Daniel Kretinsky are anticipated to make offers for the firm.

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