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Dato/tid 22.06.2015 07:35
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Tittel Itera sells its IT hosting activities in Sweden
Tekst
Oslo/Stockholm, June
22nd 2015: Itera ASA
and Rg19 Norden AB
have entered into an
agreement for Rg19
to acquire 100% of
the shares in Itera
ASA's wholly-owned
subsidiary company
Itera Networks AB.

Rg19 is a Swedish IT
operations company
with activities
throughout the
Nordic region and
its head office in
Stockholm. Itera
Networks AB
represents Itera's
IT hosting
activities in
Sweden. 

"Rg19 is focused on
applications
operations and
operations for
business-critical
systems that have
demanding
requirements in
terms of transaction
volumes and goods
flows. Acquiring
Itera Networks AB is
a strategically
important step
towards
strengthening our
position in the
Stockholm market, in
that it gives us
access to Itera's
strong expertise in
the areas of IT
operations related
to mobile workplaces
for knowledge
workers, innovation
and cloud services",
comments Pierre
Strandelin, CEO of
Rg19.

Itera Networks AB
will be
operationally part
of Rg19 from
approximately 1 July
2015, and its name
will be changed as
soon as practicably
possible. 

"The decision to
sell Itera Networks
AB was announced
with the publication
of the interim
report for the
fourth quarter of
2014, and selling
the company makes
strategic sense for
Itera. What we are
now seeking to do in
Sweden is develop
our consulting
activities in the
digital
communication,
Business
Intelligence/Big
Data and systems
development areas.
Rg19 is a good
choice of owner for
our IT hosting
activities in
Sweden, and we are
sure that they will
be able to create
good growth
conditions both for
existing customers
and for employees.
We can also see that
a strategic
partnership with
Rg19 might open up
new opportunities
and enable us to
create a strong
position for
ourselves in the
market for
digitalising and
integrating
business-critical
systems in the bank
and insurance,
e-commerce,
logistics, retail
and manufacturing
industries, as we
have a range of
complementary
expertise, customer
portfolios and
experience",
comments Arne Mjøs,
CEO of Itera. DNB
Markets has been
Itera's advisor in
the sales process.

Itera will receive
consideration of SEK
17 million for the
sale, of which SEK
12 million will be
paid when ownership
is transferred on 1
July 2015 and SEK 1
million in October
2015. The variable
part of the sales
transaction, SEK 4
million, will be
paid in the period
December 2015 to
December 2017. Itera
will recognise a
gain on the sale of
approximately NOK 2
million in the third
quarter of 2015.
Final profit
calculations will be
carried out by
closing 1st July
2015.

For more
information:

Arne Mjøs, CEO of
Itera
+47 905 23 172
arne.mjos@itera.no


Pierre Strandelin,
CEO of Rg19
+46 (0) 70 873 30 00
pierre.strandelin@rg19.se

About Itera
Itera is a
communication and
technology company
that delivers
services in the
strategy and
consulting, design
and development, and
operations and
management areas.
Its customers are
Nordic organisations
that see the
instrumental
contribution that
innovation, a good
user experience,
efficient
communication and
good technology use
can make to
achieving their
goals. Itera has 460
employees across
Norway, Sweden,
Denmark, Ukraine and
Slovakia. 
Itera Networks AB is
a wholly-owned
subsidiary company
of Itera. Itera
Networks was set up
in 1989 as LAN
International. 

About Rg19
Rg19 is an
established provider
of operating
services that
specialises in
applications
operations and
systems operations.
Rg19 uses its depth
of experience, high
level of expertise
and strong
understanding of
logistics and
business processes
to take charge of
customers'
business-critical
systems. Rg19 can
trace its origins to
Industri-Matematik,
but has operated
since 2003 as an
independent company
based in Stockholm
with activities
across the Nordic
region. It is a
dynamic and
innovative company
focused on being
close to its
customers. 

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