Atea sells 51% stake in Latvian subsidiary AppXite SiA to Aries Global

29 Dec 2025 07:14 CET

Atea has entered an agreement to sell 51% of shares in its Latvian subsidiary
AppXite SiA to the UK-based Aries Global. Atea will retain 41% of shares in
AppXite on a fully diluted basis, following the execution of share sale and
option agreements with key employees in AppXite.

AppXite SiA provides a platform for the distribution and resale of subscription
-based software and IT services. AppXite's customers include Atea, as well as
other international software and IT service providers. AppXite SiA is forecast
to generate IFRS revenue of approximately EUR 5 million in 2025, with a
breakeven EBIT. The sale price for the 51% stake in AppXite is up to EUR 10.7
million.

"AppXite has developed an excellent platform for managing subscription-based
software and IT services. The business has tremendous potential going forward.
We look forward to working together with Aries Global to bring AppXite to the
next stage of its development," commented Atea CEO Steinar Sønsteby.

For more information, please contact:
Steinar Sønsteby, Group CEO: mobile +47 930 55 655
Robert Giori, Group CFO: +47 934 09 188

About Atea
Atea is the leading supplier of IT infrastructure in the Nordic and Baltic
regions. Atea is present in 88 cities with nearly 8,000 employees in Norway,
Sweden, Denmark, Finland, Lithuania, Latvia and Estonia. Atea delivers hardware
and software from leading global vendors, and provides consulting and technical
services to support its customers with the design, implementation and operation
of their IT environments. Atea had revenue of approximately NOK 35 billion (EUR
3 billion) in 2024 and is listed on Oslo Stock Exchange. www.atea.com

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