Atea acquires Itale
(Norway) Atea AS takes over Itale AS through the acquisition of the holding company Mobility Invest AS. Itale is a nationwide supplier of mobile and telecommunications.
Itale has offices in Oslo, Stavanger, Bergen, Larvik and Sandefjord, and has 25 employees. The company is one of the leading mobile communications companies in Norway. Itale delivers customized mobile communications solutions to business customers and has frame agreements with many of the larger companies and public, local and central government in Norway. The company is expected to generate revenue of MNOK 115 and EBITDA of MNOK 11.5 in 2013.
The acquisition of Mobility Invest, and thereby Itale, is in line with Atea's strategy to gain a significant position in the mobile terminal market. Itale delivers both products and services in a rapidly growing market based on smartphones and tablets.
Atea acquires all shares in the company. All employees will continue in Atea after the transaction, which will strengthen Atea's expertise in this segment. The agreed transaction value (enterprise value) is MNOK 49.
The acquisition is subject to approval by the competition authorities and is expected to have effect in three weeks.
For further information, please contact:
Steinar Sønsteby, Executive Senior Vice President in Atea ASA, 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 6,300 employees. Atea is present in 82 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.