Itera

M&A Activity • Jun 22, 2015

Itera sells its IT hosting activities in Sweden

Itera sells its IT hosting activities in Sweden

Oslo/Stockholm, June

22nd 2015: Itera ASA

and Rg19 Norden AB

have entered into an

agreement for Rg19

to acquire 100% of

the shares in Itera

ASA's wholly-owned

subsidiary company

Itera Networks AB.

Rg19 is a Swedish IT

operations company

with activities

throughout the

Nordic region and

its head office in

Stockholm. Itera

Networks AB

represents Itera's

IT hosting

activities in

Sweden.

"Rg19 is focused on

applications

operations and

operations for

business-critical

systems that have

demanding

requirements in

terms of transaction

volumes and goods

flows. Acquiring

Itera Networks AB is

a strategically

important step

towards

strengthening our

position in the

Stockholm market, in

that it gives us

access to Itera's

strong expertise in

the areas of IT

operations related

to mobile workplaces

for knowledge

workers, innovation

and cloud services",

comments Pierre

Strandelin, CEO of

Rg19.

Itera Networks AB

will be

operationally part

of Rg19 from

approximately 1 July

2015, and its name

will be changed as

soon as practicably

possible.

"The decision to

sell Itera Networks

AB was announced

with the publication

of the interim

report for the

fourth quarter of

2014, and selling

the company makes

strategic sense for

Itera. What we are

now seeking to do in

Sweden is develop

our consulting

activities in the

digital

communication,

Business

Intelligence/Big

Data and systems

development areas.

Rg19 is a good

choice of owner for

our IT hosting

activities in

Sweden, and we are

sure that they will

be able to create

good growth

conditions both for

existing customers

and for employees.

We can also see that

a strategic

partnership with

Rg19 might open up

new opportunities

and enable us to

create a strong

position for

ourselves in the

market for

digitalising and

integrating

business-critical

systems in the bank

and insurance,

e-commerce,

logistics, retail

and manufacturing

industries, as we

have a range of

complementary

expertise, customer

portfolios and

experience",

comments Arne Mjøs,

CEO of Itera. DNB

Markets has been

Itera's advisor in

the sales process.

Itera will receive

consideration of SEK

17 million for the

sale, of which SEK

12 million will be

paid when ownership

is transferred on 1

July 2015 and SEK 1

million in October

2015. The variable

part of the sales

transaction, SEK 4

million, will be

paid in the period

December 2015 to

December 2017. Itera

will recognise a

gain on the sale of

approximately NOK 2

million in the third

quarter of 2015.

Final profit

calculations will be

carried out by

closing 1st July

For more

information:

Arne Mjøs, CEO of

Itera

+47 905 23 172

arne.mjos@itera.no

Pierre Strandelin,

CEO of Rg19

+46 (0) 70 873 30 00

pierre.strandelin@rg19.se

About Itera

Itera is a

communication and

technology company

that delivers

services in the

strategy and

consulting, design

and development, and

operations and

management areas.

Its customers are

Nordic organisations

that see the

instrumental

contribution that

innovation, a good

user experience,

efficient

communication and

good technology use

can make to

achieving their

goals. Itera has 460

employees across

Norway, Sweden,

Denmark, Ukraine and

Slovakia.

Itera Networks AB is

a wholly-owned

subsidiary company

of Itera. Itera

Networks was set up

in 1989 as LAN

International.

About Rg19

Rg19 is an

established provider

of operating

services that

specialises in

applications

operations and

systems operations.

Rg19 uses its depth

of experience, high

level of expertise

and strong

understanding of

logistics and

business processes

to take charge of

customers'

business-critical

systems. Rg19 can

trace its origins to

Industri-Matematik,

but has operated

since 2003 as an

independent company

based in Stockholm

with activities

across the Nordic

region. It is a

dynamic and

innovative company

focused on being

close to its

customers.