Mobile firms Vungle and Liftoff to merge into new company
Both are subsidiaries of private equity fund Blackstone
Adtech outfits Vungle and Liftoff are set to merge to form one bigger company.
Both firms are backed by Blackstone, and the transition is expected to take place by the end of September. The name of the new company has not been disclosed.
Liftoff, founded in 2012, is a mobile marketing and optimisation platform based in California. Vungle, founded in 2011, is a London-based firm offering advertising and monetisation solutions to app developers.
Looking at leadership, Vungle CEO Jeremy Bondy will act as president, while Liftoff CEO Mark Ellis will assume the same role at the new firm.
"In joining forces with Vungle, we offer not only the industry's most complete and scaled platform, but also maintain our focus on serving our mobile customers without any conflicts or competing offerings," Ellis said.
Bondy added: "This merger accelerates our vision to become the essential destination for all mobile developers, and the joining of two leaders as part of this industry-defining transaction will drive huge value for our partners."
In June, Vungle acquired influencer marketing platform Jetfuel, marking the firm's fourth acquisition in the last year. It also snapped up TreSensa, GameRefinery and Algolift.