Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 275

Blackstone Announces Agreement to Acquire Vungle

Posted by fidest press agency su giovedì, 18 luglio 2019

Blackstone (NYSE:BX) announced today that private equity funds managed by Blackstone (“Blackstone”) have agreed to acquire Vungle, a leading performance marketing platform for in-app video advertisements on mobile devices.Vungle is trusted by publishers of more than 60,000 mobile apps worldwide, including top brands such as Rovio, Zynga, Pandora, Microsoft, and Scopely, among others. The company serves more than 4 billion video views per month on over a billion unique devices, and is consistently ranked #1 for cross-platform user retention by industry mobile performance indexes. Vungle is headquartered in San Francisco with offices in London, Berlin, Beijing, Tokyo, Singapore and Seoul.Sachin Bavishi, Principal at Blackstone, said, “As a best-in-class performance marketing platform, Vungle represents a key growth engine for the mobile app ecosystem. Our investment will help deliver on the company’s tremendous growth potential and we look forward to partnering with management to extend Vungle’s strength across mobile gaming and other performance brands.”In connection with the transaction, Vungle has also reached a settlement agreement with founder Zain Jaffer and is pleased to have this matter resolved. Terms of the agreement were not disclosed.The transaction is expected to close later this year, subject to customary closing conditions. Goldman Sachs & Co. LLC is serving as financial advisor to Vungle and Guggenheim Securities, LLC is serving as financial advisor to Blackstone on the transaction. DLA Piper LLP (US) is serving as legal advisor to Vungle and Simpson Thacher & Bartlett LLP is serving as legal advisor to Blackstone.

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