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,
2010.

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]