Telenor Acquires Datametrix

Telenor agrees to acquire Datametrix for NOK226M

June 23, 2008

1 Min Read

FORNEBU, Norway -- Telenor has entered into an agreement with the Ignis ASA group, including the Smartnet AS subsidiary, to buy Datametrix AS. The acquisition is an important step in strengthening Telenor's expertise in advanced IP-based communication solutions to the business market and public sector.

Datametrix is one of the leading companies in this field in Norway, with solid experience from a range of innovative and future-oriented technology projects for large and medium-sized customers. In 2007 the company had 136 employees and a turnover of approximately NOK 400 million, with an EBITDA margin of around 5 per cent.

"Telenor has a stated ambition to be a strong player in integrating advanced communication solutions and our customers' IT infrastructure. The acquisition of Datametrix gives us a solid company with high levels of expertise in this area," says Ragnar Kårhus, head of Telenor Norway, and adds: "it's nice to be able to welcome the incredibly skilled employees at Datametrix into the Telenor Group. We shall do what is necessary to ensure a positive development of the company."

"We are extremely pleased to have Telenor as our new owner. Telenor is a long-term industrial owner that can provide us with the professional and financial resources needed to develop the company. Throughout the process, Telenor has demonstrated a great deal of commitment, something we appreciate and which makes us sure Telenor is the right owner for Datametrix," says Svein Lerkerød, managing director of Datametrix.

Telenor is paying NOK 226 million (enterprise value) for Datametrix. The transaction will be completed following approval by the Norwegian Competition Authority.

Telenor Group (Nasdaq: TELN)

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