Around the Net
Telenor Acquires Ad Tech Firm Tapad For $360M
- TechCrunch, Monday, February 1, 2016 9:22 AM
Techcrunch today reports that Norway-based Telenor announced it has acquired Tapad, a New York-based firm focused on cross-device marketing technology and retargeting, for $360 million. The acquisition was reported as a non-cash deal. Tapad was created by two Norwegians, Are Traasdahl and Dag Liodden, for $360 million “on a debt and cash-free basis.” The price covers 95% of the company. Traasdahl and Liodden will hold onto the remaining 5%. The deal is expected to close this quarter pending regulatory issues. Tapad was backed by Spring Capital (which owned 46.5% of the company), FirstMark Capital, Firsthand Technology, Avalon Ventures, WPP and Metamorphic Ventures. Traasdahl is president of Spring Capital.
