Private equity firm Blackstone has completed the acquisition of Vungle, a marketing platform for in-app video advertisements on mobile devices.
The mobile ad tech company runs in-app ads across over one billion unique devices and has partnerships with brands such as Zynga, Pandora and Microsoft.
According to Sachin Bavishi, principal at Blackstone, Vungle's rich expertise in the high-growth, in-app performance advertising market and strong focus on the mobile experience position the company well for continued success.
"We are excited to support Vungle as it continues to expand its platform capabilities and enter new markets to better serve advertisers and publishers," he added.
Rick Tallman, CEO of Vungle, said: "With Blackstone's resources and expertise, we will build upon our proven track record as a trusted guide for mobile growth and engagement for the world's largest brands."
Vungle has further promoted Jeremy Bondy to the newly created role of chief operating officer. He will continue to oversee global revenue and Vungle Creative Labs.
Tallman added: "Jeremy's sales and operational leadership have been instrumental to our rapid, profitable growth over the past five years. I look forward to working closely with him in his new role as we continue to expand our company and better serve our customers."
Vungle is headquartered in San Francisco, with offices in London, Berlin, Beijing, Tokyo, Singapore and Seoul.