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Blackstone acquires majority stake in data classification provider

Funds managed by Blackstone Group LP's Blackstone Tactical Opportunities acquired a majority share in data classification provider TITUS, which is headquartered in Ottawa.

TITUS provides data categorization services to improve clients' cybersecurity measures.

Deal terms were not disclosed. Davies Ward Phillips & Vineberg LLP served as Blackstone's legal adviser. TITUS worked with AGC Partners as financial adviser and Gowlings WLG as legal adviser.