NoA acquires leading digital agency Proletar

October 26th, 2019

Oslo, October 26th 2019

“Proletar is a leader in data-driven marketing in Norway and is a perfect fit with our strategic focus. NoA helps its customers with digital transformation and growth through profitable brand positioning, development of digital products and services as well as offering world-class communication services with a creative edge. Simply put, Proletar help customers use both their own and third-party data to measure, manage and optimize the effect of their marketing efforts in digital channels. Following the acquisition, we will complement our current offering by building a leading Nordic community of experts in data-driven marketing.”, says Thomas Høgebøl, CEO in NoA.

“NoA and Proletar will offer a unique combination of services and products with the potential to create high value added for our customers. This is based on the results we see in multiple of our customer relationships and in feedback we get from customers across Scandinavia”, says Høgebøl.

Proletar was established two years ago, with several ex-Googlers as partners, and is off to a flying start. The Company already works with some of Norway's largest digital brands, including Bank Norwegian and Kolonial. Earlier this year the company won the Agency of the Year Award in the "Performance" category. Proletar’s approach involves working closely with a company’s management and operating as an integrated part of their customers´ teams. The compensation model is transparent without any form of kickback from the media or advertising platforms.

“We believe that Proletar’s expertise will be critical for advertisers to develop. An important part of a Proletar consultant´s job is, therefore, to help companies build expertise internally and organize themselves optimally”, says Høgebøl.

NoA has more than doubled its turnover and bottom line since its inception in 2014. In 2018, operating profit exceeded NOK 100 million before depreciation and amortization and adjusted for one-off costs. In addition to growing organically, growth has come through several strategic acquisitions; among others the Swedish-American design agency North Kingdom in 2018, and later the Swedish consulting company Evidence Strategy.

Proletar aims for media revenue of NOK 350 million, agency revenue of NOK 15.5 million and an operating profit of approximately NOK 7 million in 2019.

“The creative and financial success of NoA in recent years shows that they have the correct market approach. NoA has a unique position in Scandinavia, and we believe that this is an exciting continuation for Proletar”, says Geirr Lødemel Tvedt, General Manager of Proletar. He adds that they plan to employ many new people:

“The key to our success lies in our employees and the way we work with customers. Our employees are our most important competitive advantage, and we employ only the best and the brightest”, says Tvedt. He is looking forward to joining the NoA family.

“As a part of NoA, we will keep our edge, but simultaneously gain access to a strong, creative, academic environment and an international network. Today, our growth is limited by our access to the right people, but through NoA, we will drastically improve our recruiting capabilities”, says Tvedt.

The parties do not want to disclose the price.