This week, Telenor Group is spreading the word about its big news.
The company, we’re told, has entered into an agreement to acquire approximately 95% of Tapad Inc., a marketing technology firm.
The deal is worth a reported $360 million.
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.
“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,” says Sigve Brekke, Chief Executive Officer of Telenor Group. “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.”
The deal is expected to close in the first quarter of this year.