COBALT advised ATEA Baltic, UAB on its acquisition of UAB Baltnetos komunikacijos

COBALT advised Atea Baltic, UAB, the largest provider of IT solutions and services in the Baltics, on its acquisition of 100% shareholding in UAB Baltnetos komunikacijos. The transaction was officially closed on 8 April 2015.

Commenting on the transaction, Arūnas Bartusevičius, Managing Director of Atea Baltic, UAB, said that the acquisition of Baltnetos komunikacijos is particularly important in that it will promote the development of cloud computing solutions, a strategic line of activity of the group.

UAB Baltnetos komunikacijos is a well-known provider of IT and data transmission solutions in Lithuania, offering data centre, internet and data transmission, IT maintenance and telephony services to business clients. With its presence on the market since 1996, the company has 130 employees and serves more than 4,000 business clients in Lithuania, as well as Belarus and Russia.

Atea Baltic, UAB is a major provider of IT solutions and services in the Baltics. The company delivers products, services and solutions for IT infrastructure, applications, security of facilities and systems. Atea employs more than 500 professionals across the Baltics, and in 2013 its aggregate turnover amounted to EUR 86.9 million.

COBALT conducted an in-depth legal due diligence, drafted and negotiated share acquisition and other transaction documents with other parties, represented the client in negotiations, advised on structuring of the transaction, assisted in obtaining merger clearance and with the signing and closing procedures, provided regular legal support to the client on all related matters. The team was led by Maksimas Saveljevas, Managing Associate of COBALT, with significant support from Senior Associate Ieva Sodeikaitė and Associates Audrius Slažinskas and Justinas Šileika.