Closes Acquisition of Vungle, a Leading Mobile Performance Marketing Platform
Summary
NEW YORKBlackstone (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. Vungle is headquartered in San Francisco, with offices in London, Berlin, Beijing, Tokyo, Singapore and Seoul.The acquisition brings together Vungles leading performance marketing platform for in-app advertising with Blackstones demonstrated success in partnering with category leaders to support and accelerate their growth.Vungles 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. With Blackstones resources and expertise, we will build upon our proven track record as a trusted guide for mobile growth and engagement for the worlds 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 Rick Tallman. Vungles 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.