Atea ASA receives €50m financing from EIB to enhance data security and support data sovereignty in EU

Atea ASA receives €50m financing from EIB to enhance data security and support data sovereignty in EU

(IN BRIEF) IT infrastructure company Atea ASA has secured a €50 million loan from the European Investment Bank to improve and expand its hosting facilities in EU countries, with a focus on improving data security and supporting the European goal of data sovereignty. The investment will be split over three areas, including expanding the capacity of existing data centers in Sweden, Denmark, Finland, and Lithuania, modernizing and harmonizing global IT platforms, and improving logistics services in Sweden. By providing IT infrastructure and related services to businesses and public-sector organizations in the Nordics and Baltics, Atea aims to boost digitalization and enhance the European industrial position and innovation.

(PRESS RELEASE) LUXEMBOURG, 27-Apr-2023 — /EuropaWire/ — The European Investment Bank (EIB), the lending arm of the European Union, and Atea ASA, an IT infrastructure company, announced their successful agreement for a €50 million loan. The financing will support Atea’s activities across the Nordics and Baltics, and will be split over three thematic investment areas to expand and improve its hosting facilities in EU countries. The investment aims to enhance data security and contribute to the European goal of data sovereignty.

The three-pronged investment will focus on expanding the capacity of existing data centres in Sweden, Denmark, Finland, and Lithuania. The existing building in Lithuania will also be expanded. Atea plans to modernize and harmonize its global IT platforms, which are currently based in Latvia, Sweden, and Denmark. Furthermore, investments will be made to increase the efficiency and services offered by Atea’s new logistics centre in Sweden. These initiatives will enhance Atea’s capacity and efficiency and improve IT service delivery, particularly to its public sector customers.

Atea CFO Robert Giori commented. “Atea’s mission is to ‘build the future with IT’ and support the digital transformation of our customers in Europe. We believe that information technology, combined with knowledge and creativity, can improve productivity and living standards across society. Our staff of IT professionals helps customers get maximum value from their IT investments, and address challenges in areas such as IT security and sustainability. We are very grateful that the EIB has chosen to support our expansion programs, and are committed to work toward the EU’s goals with regard to data autonomy, data sovereignty and the environment.”

EIB Vice-President Thomas Östros added: “This type of investment is of fundamental importance for Europe’s data security and sovereignty. Atea has an important track record in the sector, but also the willingness to keep improving and modernising. As data usage will continue to grow, storage and management capacity will need to grow alongside, and we’re happy to support this financially. Furthermore, we expect this investment to have a strong impact on local growth, innovation and competitiveness across the Nordics and Baltics.”

By providing IT infrastructure and related services to businesses and public-sector organizations in the Nordic and Baltic regions, Atea aims to boost the digitalization of key sectors. This, in turn, will enhance the European industrial position and innovation.

Background information:

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

Atea’s parent company was founded in 1968 as a pioneer within the emerging market for information technology in Norway. The company became the largest provider of IT infrastructure and related services in the Norwegian market and was listed on the Oslo Stock Exchange in 1985. Atea has since grown significantly and today employs over 7 500 professionals across 85 cities in the Nordic and Baltic region, providing IT infrastructure and related services for businesses and public-sector organisations.

Press contacts:
EIB: Tim Smit, Tel.: +352 4379 89076, e-mail t.smit@eib.org,
Atea: Robert Giori, +4793409188, Robert.Giori@atea.com

SOURCE: European Investment Bank