Atea acquires leading cloud and outsourcing provider in the Baltics
(Lithuania) Atea has entered into agreement to acquire UAB Baltnetos Komunikacijos (Baltneta), which is a leading cloud and IT outsourcing provider in Lithuania.
Baltneta is the leading cloud and IT outsourcing provider in Lithuania. The company has the highest certified datacenter in Lithuania, in which there is still significant vacant capacity. The company's 120 employees and the datacenter facilities are located in Vilnius.
Since its establishment in 1996 the company has had a successful growth track record, and now has a very solid contract base containing more than 3,000 customers. The company delivered revenue of MEUR 7.2 (MNOK 62.5) and EBITDA of MEUR 1.9 (MNOK 16.5) in the fiscal year ending 31 December 2014, and is expected to deliver revenue of MEUR 8.3 (MNOK 72.1) and EBITDA of MEUR 2.2 (MNOK 19.1) in 2015.
Cloud is a strategic business area for Atea, and it is therefore an important step in our development to be able to offer our customers datacenter capacity as private, hybrid and public cloud solutions also in he Baltics. Baltneta is today selling its solutions primarily to the SMB segment, and Atea therefore sees good cross-selling possibilities to the current customer base, which is primarily in the larger enterprise and public segments.
Atea has acquired 100% of the shares from the Kazickas family and management. All management team members and key employees will continue in Atea.
The agreed enterprise value is MEUR 10.4 (MNOK 90.3). The transaction has been approved by the Lithuanian competition authorities and will have effect as of today.
For further information, please contact:
Arunas Bartusevicius, Managing Director, Atea Baltics UAB, mobile +370 682 55 001
Steinar Sønsteby, CEO Atea ASA, mobile +47 930 55 655
Atea is the leading supplier of IT infrastructure and system integration in the Nordic and Baltic regions with approximately 6,500 employees. Atea is present in 90 cities in Norway, Sweden, Denmark, Finland, Lithuania, Latvia and Estonia. Atea delivers IT products from leading vendors and assists its customers with specialist competencies within IT infrastructure services. Atea had revenue of approximately NOK 25 billion in 2014 and is listed on Oslo Stock Exchange.