Private equity firm Blackstone yesterday agreed to buy Vungle, a US-based advertising technology developer backed by corporates Alphabet and Verizon, in a deal reported by AdAge to be worth $750m.
Financial terms of the deal were not confirmed by either party, though source told AdAge it was an all-cash transaction.
Vungle has developed a suite of digital tools that help developers monetise their mobile apps through customer data-powered advertising campaigns. The technology accounts for more than four billion video views per month.
Venture capital fund Thomvest Ventures led the company’s $17m series B round in 2014, investing alongside GV, an early-stage corporate venturing subsidiary of Alphabet then known as Google Ventures.
AOL Ventures, the now-defunct corporate venturing unit of mass media group Verizon’s AOL unit, also participated in the series B round alongside SoftTech VC and Webb Investment Network.
Vungle previously raised $6.5m in a 2013 series A round led by Crosslink Capital, with participation from GV, AOL Ventures, 500 Startups, SV Angel and several undisclosed individual angel investors.