Atea — M&A Activity 2010

Aug 19, 2010

Atea acquires leading flexible benefits solutions company and strengthen the "Free Choice" business in Denmark

(Denmark) Atea A/S in Denmark has entered into

agreement to acquire Belle Balance A/S, which will

make Atea the absolute leading business within the

market for flexible benefit solutions for employees

("Free Choice") in Denmark. After the acquisition

Atea will have approximately 370,000 potential users

of flexible benefits in the customer base.

Belle Balance is a leading provider of flexible

benefit programs in Denmark and has 30 employees. The

company was established in 2004 and is based in

Copenhagen.

The acquired company is expected to deliver revenue

of MDKK 80.0 (MNOK 85.2) and an EBITDA of MDKK 10.0

(MNOK 10.7) in 2010 using Atea's accounting

principles.

Belle Balance has a strong track record, highly

competent employees and a unique employee IT portal

and administration system as well as an extensive

customer contract base within the flexible benefits

area.

The customer contract base will add significant

opportunities for sale of IT, mobile and broadband

solutions to 209,000 potential users in Belle

Balance's customer base. Atea Free Choice customer

base will include approximately 370,000 potential

users of flexible benefits after the acquisition.

Atea has acquired 100% of the shares from the

management and key employees in Belle Balance. All

management team members and key employees will

continue in Atea in new positions in order to

strengthen Atea's concept, the "Free Choice".

The agreed transaction value is MDKK 45.0 (MNOK 47.9)

and enterprise value is estimated to MDKK 41.5 (MNOK

44.2). The transaction will have effect as of today.

For further information, please contact:

Peter Trans, Managing Director, Atea A/S, mobile +45

3078 0001

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

About "The Free Choice"

Flexible benefits solutions is based on the idea that

Danish companies have the possibility of letting

employees exchange wages for some other form of

benefit (i.e. mobile phones, internet broadband, IT-

products, newspapers, health care etc.) through a

deduction in the gross salary. "The Free Choice" is

Atea's concept for delivery, administration and

invoicing companies employees these tax exempted

benefits.

About Atea

Atea is the leading Nordic and Baltic supplier of IT

infrastructure with approximately 4700 employees.

Atea is present in 73 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 has annual revenue of

approximately NOK 15 billion and is listed on Oslo

Stock Exchange. [http://www.atea.com]