Atea acquires print/copy company in Latvia

(Latvia) Atea Baltic UAB has entered into agreement to acquire CRC SIA in Latvia with 31 employees and revenue of EUR 1.8 million (NOK 15.2 million) and EBITDA of EUR 139,000 (NOK 1.2 million) in 2012.

In 2012 Atea entered the print/copy business area in the Baltics through the acquisition of BMK in Lithuania. Based on the success of this acquisition Atea has been reviewing opportunities to enter the print/copy area in the Latvian market. This review has ended in an acquisition of CRC SIA, which will add new competences to Atea in Latvia, and allow Atea to offer customers Pan-Baltic products and services agreements.

The company has 31 skilled employees, is headquartered in Riga and has a branch office in Daugavpils. The acquired company delivered revenue of EUR 1.8 million (NOK 15.2 million) and EBITDA of EUR 139,000 (NOK 1.2 million) in 2012. For 2013 the company expects to deliver revenue of EUR 1.9 million (NOK 16.1 million) and EBITDA of EUR 157,000 (NOK 1.3 million).

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 agreed Enterprise Value is EUR 600,000 (NOK 5.1 million) of which 50% is paid up-front and 50% 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:
Arunas Bartusevicius, Managing Director, Atea 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 6,600 employees. Atea is present in 82 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 21 billion in 2012 and is listed on Oslo Stock Exchange.
www.atea.com

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