European support for Nordic IT infrastructure and services provider Atea
- Release date: 18 May 2018
- Reference: 2017-121-EN
- EUR 49 million for construction of new datacentres in the Nordics and Baltics.
- Major modernisation project for Atea’s business model and client servicing abilities.
The European Investment Bank and Atea have signed a NOK 475 million (approx. EUR 49,3 million) loan agreement in support of the company’s research and development programme for the coming years. Over the 2018-2021 period Atea will significantly overhaul its IT platforms and start the construction of a new datacentre, as well as invest in the expansion of existing ones. Further automation investments for a new logistics centre and software development will see the financing being used across the Nordics and Baltics.
“Cloud computing and related services may still sound futuristic to people, but Atea shows us that they are very much part of the present." said EIB Vice-President Alexander Stubb. “The market for IT infrastructure in the Nordics and Baltics is growing, and the EIB is proud to support one of its foremost players.”
“We are very pleased to gain the financial support of the European Investment Bank for Atea’s investment programs during the coming years,” added Atea’s CFO Robert Giori.
The loan is unsecured, and will be repaid in a single instalment following a term of five years.