Atea acquires IT Partner Finnmark and IT Partner Hammerfest
(Norway) Atea AS has entered into agreement to acquire IT Partner Finnmark AS and IT Partner Hammerfest AS, who are leading providers of IT infrastructure in Finnmark.
IT Partner Finnmark and IT Partner Hammerfest, with 15 and 4 employees respectively, are located in Alta and Hammerfest in Finnmark, the northernmost region of Norway. The two companies are expected to generate total revenue of MNOK 50 and EBITDA of MNOK 3 in 2012.
The acquisition will strengthen Atea's presence in Finnmark, where Atea has not previously had any offices, and is a part of Atea's increased focus on the region. The acquisition will strengthen the commitment to existing customers and towards the large investments in IT infrastructure related to the future oil development projects in the Barents Sea that are expected in the coming years. Following the transaction Atea will be the largest IT infrastructure supplier in Northern Norway.
Atea has acquired all shares in the companies. All employees will continue in Atea after the transaction.
The agreed transaction value (enterprise value) is MNOK 11.
The acquisition is subject to approval by the competition authorities.
For further information, please contact:
Steinar Sønsteby, Managing Director Atea AS, mobile +47 930 55 655
Rune Falstad, CFO Atea ASA, mobile +47 906 14 482
Atea is the leading Nordic and Baltic supplier of IT infrastructure with approximately 6000 employees. Atea is present in 79 cities in Norway, Sweden, Denmark, Finland, Lithuania, Latvia and Estonia. Atea delivers IT products from leading vendors and assist its customers with specialist competencies within IT infrastructure services. Atea had revenue of more than NOK 20 billion in 2011 and is listed on Oslo Stock Exchange.