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Blackstone funds complete purchase of Vungle

Private equity funds managed by Blackstone Group Inc. completed the purchase of mobile performance marketing platform Vungle Inc. for an undisclosed sum.

Concurrently, Vungle promoted Vice President of sales Jeremy Bondy to the newly created role of COO, where he will oversee global revenue and Vungle Creative Labs.

Vungle provides a marketing platform for in-application video advertisements on mobile devices.

Goldman Sachs & Co. LLC served as financial adviser to Vungle, and Guggenheim Securities LLC served as financial adviser to Blackstone on the transaction. DLA Piper LLP (US) served as legal adviser to Vungle, and Simpson Thacher & Bartlett LLP served as legal adviser to Blackstone.