Private equity firm Blackstone has reached a deal to acquire the in-app advertising platform Vungle.
The deal, announced Monday by the companies, will expand Vungle’s presence in the mobile gaming space. According to CEO Rick Tallman, selling to Blackstone 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.”
Terms of the acquisition were not disclosed, but a person familiar with the deal said Blackstone paid $750 million in cash.
As a part of the deal, Vungle also reached an undisclosed settlement agreement with co-founder Zain Jaffer, who filed a wrongful termination lawsuit against the company in March.
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