Telenor Group has entered into an agreement to acquire approximately 95 per cent of Tapad, a marketing technology firm. The purchase price is $360 million, on a debt and cash-free 100 per cent basis. The acquisition enables Telenor to take a position within the rapidly growing market for advertising technology, and secures important competence within digital marketing and analytics.
Tapad, a New York-based startup, was established in 2010 by Norwegian entrepreneur Are Traasdahl, the company’s Chief Executive Officer. The company delivers unified cross-device marketing technology solutions that give publishers, marketers and technology providers a holistic view of consumers across devices and screens, including smartphones, tablets, home computers and smart TVs. Traasdahl and his Norwegian co-founder, Dag Liodden, have together retained a 5 per cent stake in Tapad.
“With the acquisition of Tapad, Telenor Group is taking a position within the rapidly growing market for advertising technology, and securing important competence within digital marketing and analytics. I believe significant value can be created from applying marketing technology to improve the digital capabilities of our core telecom business. This will improve our understanding of customer behaviour, and supports building a platform for other business areas,” says Sigve Brekke, Chief Executive Officer of Telenor Group.