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Telenor expands in marketing tech with Tapad takeover
2016-02-01 09:11:00| Telecompaper Headlines
(Telecompaper) Telenor Group entered into an agreement to acquire approximately 95 percent of Tapad, a US-based marketing technology firm. The purchase price is USD 360 million, on a debt and cash-free 100 percent basis. Telenor expects the acquisition of Tapad to bring it a solid position within advertising and marketing technology and significantly strengthen its data analytics capabilities. Tapad will be operated as a stand-alone company. Traasdahl, the current CEO of Tapad, and Dag Liodden, co-founder and CTO, will maintain their positions. Traasdahl and his Norwegian co-founder, Dag Liodden, have together retained a 5 percent stake in Tapad. The closing of the transaction is subject to regulatory approvals. Closing is expected in first quarter 2016.
Tags: marketing
tech
expands
takeover
Category:Telecommunications