Norwegian Atea to acquire A Communications in Finland
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[November 04, 2009]

Norwegian Atea to acquire A Communications in Finland

Nov 04, 2009 (M2 PRESSWIRE via COMTEX) -- 4 November 2009 - Norwegian IT group Atea ASA (OSL: ATEA) said Tuesday that it agreed to buy Finnish sector firm A Communications Oy for an enterprise value of between EUR1.6m and EUR3.4m.

Ateal will pay 60% of equity value at the completion date of the transaction and the remaining 40% will be paid in 2012 dependent on the performance of the acquired company in the two preceding years.

A Communications has 23 employees and generated a revenue of EUR5.8m in 2008.

In 2009, the acquired business is expected to post revenue of EUR5.9m and EBITDA of EUR600,000.



A Communications' current management will continue to work for Atea and will be responsible for the growth of the videoconferencing and IP telephony business in Finland.

In the coming years, Atea expects the combined business to generate double digit revenue growth rates and to increase earnings in Finland within the segment.



(EUR1 = USD1.48) Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com

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