Blackstone agrees to acquire Vungle, terms not disclosed
Blackstone announced that private equity funds managed by Blackstone have agreed to acquire Vungle, a 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 on over a billion unique devices, and is consistently ranked #1 for cross-platform user retention by industry mobile performance indexes," said Blackstone. In connection with the transaction, Vungle has also reached a settlement agreement with founder Zain Jaffer and "is pleased to have this matter resolved," the company stated. Terms of the agreement were not disclosed. The transaction is expected to close later this year, subject to customary closing conditions.