Lithuania, Mergers and take-overs, Technology, Telecomunications

The acquisition will strengthen Atea within product and service portfolio in the Baltics and Lithuania in particular, as Atea is not currently present within the business areas of AV and print/copy in the Baltics, reports LETA/ELTA.

The company has 71 highly skilled employees and is headquartered in Vilnius. Cross selling synergies are expected by selling BMK's complementary products and services to Atea's customer portfolio in all of the three Baltic countries. Synergies are further expected within purchases and administration.

The acquired company is expected to deliver revenue of 10.7 million euros, and EBITDA of 0.7 million euros in 2012.

Atea has acquired 100% of the shares from the management and key employees. All management team members and key employees will continue in Atea.

The estimated enterprise value is 2.4 million euros, 70% of agreed equity value is paid up-front and 30% is paid in equal installments over the next three years as part of an earn-out structure.

The transaction has been approved by the Lithuanian Competition Authority and will have effect as of March 14, 2012.

Atea is the leading Nordic and Baltic supplier of IT infrastructure with approximately 5800 employees. Atea is present in 79 cities in Norway, Sweden, Denmark, Finland, Lithuania, Latvia and Estonia. Atea delivers IT products from leading vendors and assist its customers with specialist competencies within IT infrastructure services. Atea had revenue of more than NOK 20 billion in 2011 and is listed on Oslo Stock Exchange.