At what enterprise value was JOTTACLOUD acquired in 2025?

During the acquisition of JOTTACLOUD by TELENOR SOFTWARE / HAWK INFINITY SOFTWARE in 2025, the company was valued at an estimated revenue multiple of 5x - 12x. The transaction's Enterprise Value is estimated to be in the range of 500M - 1.5b NOK. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the TMT (Tech, Media, Telecom) industry currently tracks an average EBITDA multiple of 13.4x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of JOTTACLOUD when it was acquired by TELENOR SOFTWARE / HAWK INFINITY SOFTWARE?

The estimated EV/EBITDA multiple for JOTTACLOUD is in the range of 15x - 25x. For comparison, the TMT (Tech, Media, Telecom) sector currently shows an average EBITDA multiple of 13.4x. Join our community for free to access full valuation data and industry trends.

What was the revenue of JOTTACLOUD at the time of the deal?

The revenue of JOTTACLOUD at the time of the deal is estimated to be in the range of 100M - 200M NOK. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of JOTTACLOUD during the acquisition?

JOTTACLOUD's EBITDA is estimated to be in the range of 50M - 100M NOK. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the JOTTACLOUD acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the JOTTACLOUD deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://live.euronext.com/en/products/equities/company-news/2025-03-19-hawk-infinity-software-agreement-sale-jotta-and-strategic

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Home Database TMT (Tech, Media, Telecom)JOTTACLOUD

03/2025

JOTTACLOUD

Acquired by

TELENOR SOFTWARE & HAWK INFINITY SOFTWARE

NORWAY Software EV 500M - 1.5b NOK

JOTTACLOUD acquired by TELENOR SOFTWARE & HAWK INFINITY SOFTWARE

NORWAY Software EV 500M - 1.5b NOK

Context

Hawk Infinity Software (HIS) has entered into a definitive agreement to sell 100% of Jotta AS to a newly established strategic joint venture (SJV) owned 50/50 by HIS and Telenor. The Transaction involves the combination of Jotta with Telenor Software Lab AS (TSL), the provider of the "Min Sky" cloud service. The strategic rationale for the deal is to create a dominant Norwegian alternative to international cloud providers, boasting over 2 million active users and expected revenues exceeding 200 MNOK in 2025. For HIS, this represents a significant crystallization of value for its first majority SaaS investment made in 2016, which has seen a 300% revenue increase under its tenure. The net cash proceeds are earmarked for further M&A opportunities and general corporate purposes. The transaction, which is subject to Norwegian competition authority approval, will also result in a corporate restructuring where Jotta is replaced by a new subsidiary, SH Int AS, within the HIS bond obligor group, while the SJV itself will transition to a non,consolidated ownership model.

JOTTACLOUD, which reported an EBITDA margin of LOGIN in 2024, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the TMT (Tech, Media, Telecom) sector (13.4x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Jotta AS is a prominent Norwegian cloud storage provider operating under the widely recognized brand, Jottacloud. The organization specializes in providing secure, high,performance data storage solutions for both individual consumers and large scale platform partners across the telecommunications, retail, and finance sectors. A key differentiator of the entity is its commitment to data sovereignty, with all information stored safely on servers located within Norway, offering a localized alternative to global cloud service providers. Established as a niche player, the company has demonstrated consistent growth and improving profitability margins, driven by a robust infrastructure and a focus on safe data handling. Its business model relies on a mix of direct subscriptions and strategic B2B partnerships, positioning it as a trusted partner for managing digital assets, personal files, and corporate data with a strong emphasis on privacy and local regulatory compliance.

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Other operations with JOTTACLOUD

REFERENCES

Valuation range: EV 500M - 1.5b NOK

Revenue range: 100M - 200M NOK

EBITDA range: 50M - 100M NOK

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of JOTTACLOUD by TELENOR SOFTWARE / HAWK INFINITY SOFTWARE are reserved for mynth community members. Register for free to unlock full data.

Authors: mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Acquirer: telenor software / hawk infinity software