Dropzone is a leading IT infrastructure company selling its products through its user-friendly and efficient e-commerce solution. The company has 15 employees, and a large and loyal customer base of more than 20,000 customers within the private and public sector.
Dropzone generated revenue of MNOK 131.0 and EBITDA of MNOK 3.7 in 2009 and has had a strong earnings track record since it was established in 1999. The company is located in Oslo.
The acquisition is strategically important for Atea to establish Ateadirect in all 7 Atea countries, a dedicated eSHOP and sales and marketing initiatives for the small and medium sized segment.
The agreed transaction value is MNOK 29.2 (enterprise value).
The shares are acquired from Petter Fjellstad (Chairman) and the management team. The management and all employees will continue in Atea and be responsible for growing the SMB segment sales in Norway.
The acquired business is expected to generate revenue of MNOK 170.0 and EBITDA of MNOK 5.5 in 2010.
The transaction of Dropzone is subject to approval from the Norwegian competition authorities and is expected to have effect within 16 working days.
For further information, please contact:
Steinar Sønsteby, Managing Director, Atea AS, mobile +47 930 55 655
Jesper Mathiasen, Corporate Development Director, Atea ASA, mobile +45 3078 1880
Rune Falstad, CFO Atea ASA, mobile +47 906 14 482