Blackstone (NYSE:BX) has announced that private equity funds managed by Blackstone have completed the previously announced acquisition of Vungle, a performance marketing platform for in-app video advertisements on mobile devices, the company said.
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 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.
The acquisition brings together Vungle´s performance marketing platform for in-app advertising with Blackstone´s demonstrated success in partnering with category leaders to support and accelerate their growth.
Concurrent with the completion of the transaction, Vungle is promoting Jeremy Bondy to the newly created role of Chief Operating Officer. He will continue to oversee global revenue and Vungle Creative Labs, while ensuring operational excellence across the business.
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.
Blackstone is one of the world´s investment firms. Further information is available at www.blackstone.com.
Vungle is the trusted guide for growth and engagement, transforming how people discover and experience apps. Mobile application developers partner with Vungle to monetize their apps through innovative in-app ad experiences that are inspired by insight and crafted with creativity. Advertisers depend on Vungle to reach, acquire, and retain high-value users worldwide. For more information, visit www.vungle.com.