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Private equity firm Blackstone just announced that it has reached an agreement to acquire mobile advertising company Vungle.
The companies aren’t disclosing the financial terms, but as part of the transaction, Vungle has also reached a settlement with founder Zain Jaffer, who filed a wrongful termination lawsuit against the company earlier this year.
Best-in-class - Performance - Marketing - Platform - Vungle
“As a best-in-class performance marketing platform, Vungle represents a key growth engine for the mobile app ecosystem,” said Blackstone principal Sachin Bavishi in a statement. “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.”
Meanwhile, CEO Rick Tallman said the deal will allow the company to “further accelerate Vungle’s mission to be the trusted guide for growth and engagement, transforming how users discover and experience mobile apps.”
Vungle - Acquisition - Release - Apps - Worldwide
Vungle was founded back in 2011, and according to the acquisition release, it’s currently working with 60,000 mobile apps worldwide, serving more than 4 billion video views per month and working with publishers like Rovio, Zynga, Pandora, Microsoft and Scopely.
Jaffer led Vungle as CEO until October 2017, when he was arrested on charges including performing a lewd act upon a child and assault with a...
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