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Providence Equity funds invest €200M in digital advertising company

Finland-based digital advertising company Smartly.io Inc. secured a majority investment of €200 million from funds advised by Providence Equity Partners LLC.

Smartly helps advertisers manage and optimize ad operations across Facebook Inc., Instagram LLC and Pinterest Inc. The company has been an official Facebook Marketing Partner since 2014, according to a Dec. 18 news release.

Laura Desmond, operating partner at Providence, was appointed chairperson of Smartly's board of directors.

Providence Equity focuses on buyout investments in media, communications, education and information services companies.

Macquarie Capital was exclusive financial adviser to Smartly.io, and Hannes Snellman was Smartly.io’s legal adviser. Debevoise & Plimpton LLP and Krogerus provided legal counsel to Providence.