NEW YORK, Sept. 30, 2019 /PRNewswire/ -- Blackstone
(NYSE:BX) announced today that private equity funds managed by
Blackstone ("Blackstone") have completed the previously announced
acquisition of 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 over a billion unique devices, and
is consistently ranked No.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 leading performance
marketing platform for in-app advertising with Blackstone's
demonstrated success in partnering with category leaders to support
and accelerate their growth.
"Vungle's rich expertise in the high-growth, in-app performance
advertising market and strong focus on the mobile experience
position the company well for continued success," said Sachin Bavishi, principal at Blackstone. "We are
excited to support Vungle as it continues to expand its platform
capabilities and enter new markets to better serve advertisers and
publishers."
Martin Brand, a senior managing
director at Blackstone, said: "We are pleased to complete this
transaction, and look forward to investing in Vungle and pursuing a
business plan focused on accelerating growth."
Rick Tallman, CEO of Vungle,
said: "We are delighted to join the Blackstone portfolio of
companies and kick off the next chapter of Vungle's story. With
Blackstone's resources and expertise, we will build upon our proven
track record as a trusted guide for mobile growth and engagement
for the world's largest brands."
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.
"Jeremy is a seasoned and trusted leader who consistently
delivers results," added Tallman. "Jeremy's sales and operational
leadership have been instrumental to our rapid, profitable growth
over the past five years. I look forward to working closely with
him in his new role as we continue to expand our company and better
serve our customers."
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.
About Blackstone
Blackstone is one of the world's leading investment firms.
We seek to create positive economic impact and long-term value for
our investors, the companies in which we invest, and the
communities in which we work. We do this by using
extraordinary people and flexible capital to help companies solve
problems. Our businesses, with $545
billion in assets under management, include investment
vehicles focused on private equity, real estate, public debt and
equity, non-investment grade credit, real assets and secondary
funds, all on a global basis. Further information is
available at www.blackstone.com. Follow Blackstone on twitter
@Blackstone.
About Vungle
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. Vungle
develops tools that include data-led buying and UX recommendations,
ad format innovation, creative automation, and more. Vungle's
data-optimized ads run on over 1 billion unique devices to drive
engagement and increase returns for publishers and advertisers
ranging from indie studios to powerhouse brands, including Rovio,
Zynga, Pandora, Microsoft, and Scopely. The company is
headquartered in San Francisco and
has offices around the world in London, Berlin, Beijing, Tokyo, Seoul,
Singapore. For more information,
visit www.vungle.com or follow the company on Twitter @Vungle
View original content to download
multimedia:http://www.prnewswire.com/news-releases/blackstone-closes-acquisition-of-vungle-a-leading-mobile-performance-marketing-platform-300927867.html
SOURCE Vungle