Tapad, a New York-based ad tech firm specializing in cross-device attribution, Friday was acquired by Telenor, one of the largest telecommunications companies in the world. Oslo-based Telenor acquired 95% of Tapad for $360 million, but will continue to operate it as a free-standing company.
Founder and CEO Are Traasdahl, CEO and Founder and Co-Founder and CTO Dag Liodden will continue to run Tapad.
The main sellers to Telenor were Traasdahl and Tapad’s lead investor, FirstMark Capital, but other noteable sellers included WPP.
Traasdahl described the deal as a “strong strategic fit,” and said Telenor’s resources will help Tapad expand its global market position in the device attribution marketplace.For Telenor, the acquisition represents a diversification into what it believes is a high growth marketplace.