Jottacloud and Telenor Software Lab have announced a merger, forming an all-Norwegian alternative to global cloud storage providers. Telenor Software Lab and Jotta AS are both well-established in cloud storage. For over a decade, Telenor Norway has offered Min Sky, an automatic image backup service developed by Telenor Software Lab. Jotta is owned by Hawk Infinity, a Norwegian investment company focusing on software and technology businesses.
The merger strengthens the company’s ability to develop a future-ready cloud storage solution for consumers and businesses. The joint venture, owned 50/50 by Hawk Infinity and Telenor Amp, will continue enhancing both Jottacloud and Min Sky, combining the best technology, expertise, and infrastructure from both companies.
The new company will serve over 2 million active customers and expects revenues of approximately NOK 200 million in 2025. Its enterprise value is estimated at NOK 1.5 billion, including synergies in storage costs. Existing Min Sky and Jottacloud customers will not be affected by the merger. The merger is subject to approval by the Norwegian Competition Authority, with completion expected in Q2 2025.
Roland Rabben, CEO and Founder, Jotta
The merger brings clear synergies, particularly in secure data storage, artificial intelligence, and product development. By joining forces, we’ll be stronger and better equipped to deliver the best cloud storage experience. We’re confident that Jottacloud and Min Sky users will benefit from even better services in the future.
Dan Ouchterlony, Head, Telenor Amp
My Sky is a highly valued service in a rapidly growing market, driven by rising data consumption and the need for secure storage. By scaling up our cloud storage capabilities and expanding our development environment, we can offer an even better service to our customers. Jotta is the perfect match for this ambition, and together, we see an opportunity to build a leading international SaaS company.