Atea acquires information network solutions company in Finland

Atea Oy in Finland has entered into agreement to

acquire all shares in PALnet Oy, which is a leading

supplier and service provider within information

network and data security solutions related to local

area networks.

PALnet has 21 employees and realized revenue of MEUR

12.1 (MNOK 97.4) and EBITDA of MEUR 1.3 (MNOK 10.5)

in 2009. The company has offices in Helsinki,

Jyväskyla and Tampere, and is selling products from

leading vendors as HP and Cisco.

The acquisition will strengthen Atea's existing

business and competencies within local area networks.

New customers, especially within the public sector,

and additional service business will be added.

The acquired business is expected to generate revenue

of MEUR 13.0 (MNOK 104.7) and EBITDA of MEUR 1.4

(MNOK 11.3) in 2010.

Atea has acquired 100% of the shares from the

management of the company who will all continue in

Atea and be responsible for accelerating the growth

of the information solution business in Finland.

The agreed transaction sum on cash and debt free

basis (enterprise value) is a maximum of MEUR 5.7

(MNOK 46.0) whereof it has been agreed that MEUR 1.34

(MNOK 10.8) is paid in 2012 based on the performance

of the transferred business in 2010 and 2011.

The transaction will have effect as of today.

The acquisition of the information networks business

in Finland is in line with the announced 20:11:1

growth plan for Atea.

For further information, please contact:

Juha Sihvonen, Managing Director, Atea Oy, mobile

+358 400 735 134

Jesper Mathiasen, Corporate Development Director,

Atea ASA, mobile +45 3078 1880

Rune Falstad, CFO Atea ASA, mobile +47 906 14 482

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