JOTTACLOUD acquired by TELENOR SOFTWARE & HAWK INFINITY SOFTWARE
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 in 2024, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the TMT (Tech, Media, Telecom) sector (15.1x).
-> Deep-dive in TMT (Tech, Media, Telecom) market trends
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.
Ent. Value
Equity Value
Multiples
EV / Revenue
EV / EBITDA
EV / EBIT
Historical Financials (NOK)
Similar deals in Software
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 04/2025 | TA ASSOCIATES | SMARTTRADE TECHNOLOGIES | FRANCE | Financial Services / Banking |
| 04/2025 | BAIN CAPITAL | HealthEdge | UNITED STATES | Industry-Specific Software |
| 03/2025 | EQT PARTNERS | FORTNOX | SWEDEN | ERP, HR & Finance |
| 03/2025 | TXT E-SOLUTIONS | IT VALUES | ITALY | Industry-Specific Software |
| 03/2025 | BAIN CAPITAL | NAMIRIAL | ITALY | Industry-Specific Software |
| 03/2025 | Literacy Capital | Trinitatum | UNITED KINGDOM | Financial Services / Banking |
| 02/2025 | CENTRIC SOFTWARE | CONTENTSERV | GERMANY | MarTech |
| 02/2025 | HAWK INFINITY SOFTWARE | SYMPLIFY TECHNOLOGIES | Sweden | CRM & Sales |
| 02/2025 | HAWK INFINITY SOFTWARE | ROQC DATA MANAGEMENT | Norway | Industry-Specific Software |
| 02/2025 | HAWK INFINITY SOFTWARE | BAZE TECHNOLOGY | Denmark | Travel / Hospitality |
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: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Acquirer: telenor software / hawk infinity software