Telecom network operator Telenor announced its deal to acquire approximately 95 percent stake in Tapad, a US-based marketing technology start-up, for $360 million.
Telenor aims to grow in advertising technology market, and secures competence within digital marketing and analytics. The size of the global digital advertising market is approximately $160 billion in 2015.
The strategy of Telenor is to deliver a range of engaging digital services to its customers, as well as to improve efficiency by digitizing core business, including important areas like sales, marketing and distribution.
“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,” said Sigve Brekke, chief executive officer of Telenor Group.
Tapad provides accurate and unified approach to connect with consumers across screens. Tapad’s device management solution, The Tapad Device Graph, assimilates data points from devices and platforms, and helps customers recognize, measure and monetize their audiences across all of their internet connected devices.
Are Traasdahl is the CEO and founder of Tapad. Tapad currently has more than 160 of the top U.S. brands among its customers and benefits from over 50 data technology licensing partnerships. Tapad has approximately 160 employees, with offices in 13 key cities in the U.S. and Europe.
Tapad, a New York-based startup established in 2010, is expected to report revenues of $57 million, growing at 70 percent compared to 2014, and an EBITDA loss of $12 million in 2015. Tapad revenues are estimated to increase to $90 million in 2016.
editor@telecomlead.com
