Atea — M&A Activity 2010

Nov 16, 2010

Atea acquires virtualization service company in Finland

(Finland) Atea Oy has entered into agreement to

acquire all shares of Ten of Ten Oy, a virtualization

focused service company in Finland.

Ten of Ten has 9 employees and has a revenue of

approximately MEUR 1.2 (MNOK 9.8) and EBITDA of EUR

140,000 (MNOK 1.1) in the fiscal year 2010. The

company provides services within a wide scale of

virtualization technologies and solutions throughout

Finland and has high competencies in Citrix, VMware,

Microsoft, Wyse, Thinprint and HP technologies. In

addition to strong technological know-how the company

has long-term customers within both the private and

public sector.

The acquired business is expected to generate revenue

of MEUR 1.4 (MNOK 11.4) and EBITDA of EUR 320,000

(MNOK 2.6) in 2011.

Atea expects virtualization to be one of the fastest

growing technologies in the next couple of years. The

acquisition of Ten of Ten will strengthen Atea´s

total offering in Finland and create synergy benefits

in building IT infrastructure solutions for the

customers.

Atea acquires 100% of the shares from the management

of the company and all management members will

continue in Atea and be responsible for accelerating

the growth of Ateas virtualization business in

Finland.

The agreed transaction sum on cash and debt free

basis (enterprise value) is MEUR 1.6 (MNOK 13.0)

including an earn out element of EUR 530,000 (MNOK

4.3)

The transaction will have effect as of November 16,

The acquisition of Ten of Ten 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

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 4800 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]