Atea Baltic acquired 100% of Lithuanian cloud and outsourcing provider Baltnetos Komunikacijos
|Kazickas family and management
Atea Baltic, subsidiary of Norwegian IT group Atea ASA, acquired Baltnetos Komunikacijos, leading Lithuanian cloud and IT outsourcing provider. Baltnetos Komunikacijos, founded in 1996 and headquartered in Vilnius, offers data center, cloud computing, internet, VoIP and IT maintenance. The company has about 120 employees, and recorded €7.2 mln sales and €1.9 mln EBITDA in 2014.
Atea ASA is one of the leading suppliers of IT services in Scandinavia and Baltics. In the Baltics the company has more than 500 employees and sales in 2014 reached €94.7 mln. During past few years Atea made 5 other acquisitions in the Baltics within the IT sector.
The transaction was completed on 9 April 2015. The agreed enterprise value is €10.4 mln. Keystone acted as an advisor to Atea Baltic.
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