Norway-based Telenor Group is acquiring 95 percent of marketing technology firm Tapad for $360 million. The deal will enable Telenor to expand its advertising technology and analytics, the company noted.
Tapad’s founders, Are Traasdahl and Dag Liodden, will together retain a 5 percent stake in the New York City-based startup. Tapad will operate independently, with Traasdahl and Liodden remaining in their positions as CEO and CTO, respectively.
Tapad entered the scene in 2010 with a marketing tool that gives users an overview of their customers across screens and devices. The startup employs about 160 people in 13 offices in the US and Europe.
Tapad’s device management technology combines data points from different platforms (smartphones, tablets and smart TVs) so customers can focus on measurement and monetizing, with an emphasis on data privacy.
“I believe significant value can be created from applying marketing technology to improve the digital capabilities of our core telecom business,” Telenor CEO Sigve Brekke said. “This will improve our understanding of customer behaviour, and supports building a platform for other business areas.”
Tapad has among its customers more than 160 US brands and 50 data technology licensing partnerships. Digital advertising continues to grow, with mobile leading the growth: the global market amount valued at $160 billion in 2015.