Blackstone To Make Significant Equity Investment In Simpli.fi

(RTTNews) - Blackstone (BX) agreed to make a significant equity investment in Simpli.fi, a provider of programmatic advertising and agency management software. The investment, which would be made through Blackstone's flagship private equity vehicle, values Simpli.fi at about $1.5 billion.

Blackstone will join existing investor GTCR, a private equity firm, as majority shareholders in Simpli.fi.

Blackstone and GTCR will have equal representation on the Simpli.fi Board of Directors.

GTCR acquired a majority interest in the Company in 2017 and, alongside co-founders Frost Prioleau and Paul Harrison, has helped build Simpli.fi into a scaled and rapidly growing platform that uniquely serves the needs of independent advertising agencies and local advertisers.