Telenor ASA (OB:TEL) agreed to acquire 50% stake in Jotta AS from Hawk Infinity Software AS for NOK 360 million on March 19, 2025. The deal will see Hawk Infinity Software sell its Jotta cloud storage business to the joint venture ,with Telenor contributing its Telenor Software Lab unit. Hawk Infinity Software and Telenor will each own 50% of the Joint venture company. The transaction reflects TEV/EBITDA multiple of 16.6x. For the period ending December 31, 2024, Jotta AS reported total revenue of NOK approximately 100 million, EBITDA of NOK 56 million and free cash flow before tax of NOK 27 million.
The transaction is subject to approval by the Norwegian Competition Authority, with completion expected in Q2 2025.
Telenor ASA (OB:TEL) completed the acquisition of 50% stake in Jotta AS from Hawk Infinity Software AS for Approximately NOK 360 million on April 30, 2025.
Telenor ASA is the No. 1 telecommunications group in Norway. Net sales (including intragroup) break down by activity as follows:
- mobile and fixed-line telecommunications services (89.8%): mobile and fixed-line telephony services, voice and data transmission, Internet access, messaging, TV channel broadcasting, sale of telecommunications equipment, etc.;
- telecommunications infrastructure management (4.1%): construction, development and leasing of towers, masts, buildings, etc.;
- other (6.1%): offshore telecommunications services, interconnection between operators, etc.
Net sales are geographically distributed as follows: Norway (34.7%), Sweden (18.6%), Bangladesh (17.4%), Finland (17.3%), Denmark (8.2%) and other (3.8%).
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