Atea acquires leading IT network services company in Denmark

(Denmark) Atea A/S in Denmark has entered into agreement to acquire Nworks A/S, which is a leading provider of services within the business area of IT networks.

Nworks is a leading provider of services within the specialized business area of IT networks in Denmark and has 40 employees. The company was established in 2000 and is headquartered in Copenhagen with a small office in Aarhus.

Nworks has a successful growth track record, highly competent employees and strong concepts within network-as-a-service as well as a solid customer contract base. The company is expected to deliver revenue of MDKK 62 (MNOK 63.5) and EBITDA of MDKK 19 (MNOK 19.4) in 2012.

The acquisition will strengthen Atea's IT network business in Denmark as Nworks complements Atea's current offering within this business area. Atea today has a strong position within the product and consulting business whereas Nworks has focused on the services and operation business.

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

The estimated enterprise value is MDKK 68 (MNOK 69.6). 90% of agreed equity value is paid up-front and 10% is paid over the next three years as part of an earn-out structure.

The transaction will have effect as of today.

For further information, please contact:
Lars Johansson, Managing Director, Atea A/S, mobile +45 3078 0081
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 5800 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.
www.atea.com

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