Telenor, a Norway-based telecommunications network with some 200 million subscribers in Europe and Asia, announced today it has purchased the ad tech platform Tapad for $360 million in cash. Telenor provides both broadband and TV distribution.
Since its founding in 2010, Tapad has signed some 50 data licensing partnerships, tapping its ability to deliver ads across smartphones, tablets, PCs, and smart TVs. The New York-based company was founded by two Norwegians—Are Traasdahl and Dag Liodden—and operates 12 offices globally, including ones in Frankfurt and London.
“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 behavior, and supports building a platform for other business areas,” Telenor CEO Sigve Brekke said in a statement.
The acquisition is an opportunistic move by Telenor to fill a void for marketing technology solutions in Europe, according to a mobile ad veteran of Apple and Quattro Wireless. “There’s a large and immediate opportunity to bring data products and solutions to market across Europe and APAC, where Telenor has a strong presence,” said Jennifer Lum, now chief strategy officer at Adelphic Mobile.
Tapad is expected to report 2015 revenues of $57 million, a 70% increase over 2014. According to Telenor, it will continue to be operated by Traasdahl and Liodden as a standalone company.
