Telenor has acquired 95% stake in marketing technology firm Tapad for $360 million on a debt and cash-free 100% basis. With this acquisition, Telenor will enter the advertising technology vertical and gain expertise in digital marketing and analytics.
Post acquisition, Tapad will operate as a standalone company with co-founders Are Traasdahl and Dag Liodden continuing as CEO and CTO respectively. The co-founders will together also also retain 5% stake in the company. The closing of the deal is subject to regulatory approvals and is expected to close in the first quarter of 2016.
Founded in 2010 Tapad provides advertising solutions across devices like smartphones, computers, smart TVs and tablets to publishers, marketers and technology providers. It also has data based solutions to provide understanding of customer’s devices and other marketing solutions like customized video, rich media solutions and cross-platform banners.
Uninor acquisition: In October 2014, Telenor increased its stake in Telewings (Uninor) to 100% by acquiring the remaining 26% stake held by its Indian partner Lakshdeep Investment & Finance. The terms of the deal were undisclosed. Note that this was after the Indian government allowed 100% FDI in telecom in July 2013.
Internet subscriber base: Telenor’s active Internet subscriber base fell in India to 8.99 million for the quarter ended September 30, 2015, or 22% of its overall active Internet connections. The telecom operator had reported an Internet base of 10.36 million connections in the preceding quarter or 26% of its subscriber base.
Top deck reshuffle: The same month, Telenor India announced that appointed Sharad Mehrotra as its new chief executive officer. Other appointments included Ruza Sabanovic as EVP and chief technology officer, Wenche Agerup as EVP and chief corporate affairs officer and Jon Gravråk as EVP and chief digital officer. In May, Telenor also appointed Morten Karlsen Sørby as the head of Asia region.