Telenor sells Tapad for NOK 2.5 billion – four years after paying NOK 3.2 billion for the same company

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Telenor reports on Thursday night that the company is selling the advertising technology company Tapad to Experian. The sale gives Telenor a book gain of NOK 2.1 billion.

The agreement values ​​Tapad at NOK 2.5 billion.

The sale takes place four years after Telenor bought Tapad for 350 million dollars – 3.2 billion kroner at the then krone exchange rate.

In the years following Telenor’s acquisition, Telenor has written down the value of Tapad a number of times in the accounts, for several billion kroner. This means that Telenor has assumed that Tapad was worth far less than they originally paid for Tapad: After two years, the book value of Tapad was NOK 400 million.

The reason was, among other things, weaker results in the USA and lower-than-expected growth in the data segment.

The gain of NOK 2.1 billion is calculated on the basis of the book value of Tapad, ie the value Telenor itself has written in the accounts that Tapad has had.