Atea — M&A Activity 2010

Feb 18, 2010

Atea completes the fourth acquisition of print/copy companies in Sweden

Atea has today entered into agreement to acquire a

print/copy company in Karlstad in Sweden. Atea has

hereby acquired four print/copy companies located in

Västerås, Eskilstuna, Borås and Karlstad as planned

and announced in the Stock Announcement as of 4th of

February 2010.

Atea AB in Sweden has today entered into agreement to

acquire 100% of the shares in "Office i Värmland AB",

which has 33 employees and is located in Karlstad in

the central part of Sweden. The company is

specialized in sales and services of print/copy and

IT infrastructure products and is expected to

generate revenue of MSEK 85.0 (MNOK 69.3) and EBITDA

of MSEK 1.3 (MNOK 1.1) in the fiscal year ending 31st

of August 2010.

The purchase price on cash and debt free basis

(Enterprise Value) is agreed to MSEK 4.8 (MNOK 3.9)

in cash payment. All the shares in the company have

been acquired from the management. All members of the

management team and all employees will continue in

Atea.

The transaction will have effect as of today.

The acquisition of Office in Eskilstuna and Office in

Västerås announced on 4th of February 2010 were

completed on 17th of February 2010.

The acquisitions of print/copy companies in Sweden

are in line with Atea's 20:11:1 growth plan and the

acquisitions will make Atea a leading player within

print/copy business in Sweden. The acquisitions will

add 91 new employees and skilled print/copy

competencies in 8 cities and enlarge the customer

base. Atea will gain synergies by merging office

locations, from cross sale to new and existing

customers and optimization of back office functions

and IT systems.

The expected revenue for all four acquired companies

is MSEK 200.0 (MNOK 163.1) and EBITDA of MSEK 15.2

(MNOK 12.4) in 2010. The total transaction sum on

cash and debt free basis (Enterprise Value) for the

four companies amount to MSEK 47.2 (MNOK 38.5)

including earn out payments of up to MSEK 3.2 (MNOK

2.6) to be paid in 2011.

For further information, please contact:

Lars Pettersson, Managing Director, Atea Sverige AB,

mobile +46 705 728 02

Jesper Mathiasen, Corporate Development Director,

Atea ASA, mobile +45 3078 1880

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