Atea acquires leading IT infrastructure company in Estonia

(Estonia) Atea Baltics UAB has entered into agreement to acquire the IT infrastructure activities of Net Group, which is the one of the leading IT infrastructure companies in Estonia.

Atea Baltics UAB has entered into agreement to acquire the IT infrastructure activities of Net Group in Estonia. The company has 27 highly skilled employees and is based in Tallinn. With expected revenue of MEUR 8.7 (MNOK 66.3) and EBITDA of MEUR 0.4 (MNOK 3.2) in 2012 NG Infra Oü is one of the largest and recognized as one of the strongest IT infrastructure companies in Estonia.

The acquisition will quadruple Ateas current business activities in Estonia, and will add a service organization with important competences and certifications to the Estonian operation.

The acquisition is important for Atea in the Baltics, as Atea post the acquisition will be able to offer its customers the full range of IT infrastructure products and services in all Baltic countries. This is important since an increasing number of customers are placing Pan-Baltic orders, where it is a prerequisite to be able to deliver the same products and services in all three Baltic countries.

Atea has acquired 100% of the shares from the management and key employees. All management team members and employees will continue in Atea.

The estimated enterprise value is MEUR 1.9 (MNOK 14.5). 65% of estimated equity value is paid up-front and 35% is paid over the next two years as part of an earn-out structure.

The transaction is subject to approval from the Estonian Competition Authority and is expected to have effect within one month from this announcement.

For further information, please contact:
Arunas Bartusevicius, Managing Director, Atea Baltics UAB, mobile +370 682 55 001
Rune Falstad, CFO Atea ASA, mobile +47 906 14 482

About Atea
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.