Blackstone To Invest In Mobile App Marketer Liftoff; Terms Undisclosed

(RTTNews) - Liftoff, mobile app marketing optimization platform, said it has reached a definitive agreement for a majority investment from private equity funds managed by Blackstone (BX). The companies did not disclose terms of the deal, but it is reportedly close to $400 million.

The transaction is expected to close early next year.

Founded in 2012, Liftoff partners with mobile app marketers to grow their platforms globally. Liftoff's technology solutions deliver more than one billion engaging ads each day to high value users in more than 90 countries and across more than 500,000 mobile publishers.

Headquartered in Redwood City, California, Liftoff has additional offices in New York, San Francisco, Seattle, Berlin, London, Paris, Singapore, Seoul, and Tokyo.