By Matt Grossman

 

Blackstone Group Inc. is making a private-equity investment in Simpli.fi, valuing the advertising-technology company at $1.5 billion, Blackstone said Monday.

Simpli.fi provides software for media buyers to manage operations and execute digital ad campaigns. Blackstone and GTCR, another private-equity investor that invested in Simpli.fi in 2017, will be the company's majority shareholders.

Blackstone executive Sachin Bavishi said that the investment accords with Blackstone's conviction around digital advertising. The investment will help accelerate Simpli.fi's growth, he said.

Blackstone and GTCR will have equal representation on the board of Fort Worth, Texas-based Simpli.fi, which is led by co-founders Frost Prioleau and Paul Harrison.

 

Write to Matt Grossman at matt.grossman@wsj.com

 

(END) Dow Jones Newswires

June 28, 2021 08:00 ET (12:00 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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