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    Home»Investments»Blackstone to Invest in Simpli.fi, Values Firm at $1.5 Billion
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    Blackstone to Invest in Simpli.fi, Values Firm at $1.5 Billion

    June 28, 20211 Min Read
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    WASHINGTON, DC - AUGUST 05: CEO and co-founder of Blackstone Stephen Schwarzman participates in a session of the U.S.-Africa Business Forum on "Powering Africa: Leading Developments In Infrastructure," during the U.S.-Africa Leaders Summit at the Mandarin Oriental Hotel August 5, 2014 in Washington, DC. The three-day-long summit is to strengthen ties between the United States and African nations. (Photo by Alex Wong/Getty Images)
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    Blackstone Group Inc. said it’s taking a “significant” stake in Simpli.fi, an investment that values the advertising technology platform at about $1.5 billion.

    The investment will give Blackstone and GTCR, which acquired a majority interest in the company four years ago, joint control of the Fort Worth, Texas-based company. The two private equity firms will also have equal representation on Simpli.fi’s board, they said in a joint statement.

    Since the earlier acquisition, GTCR had worked with Simpli.fi’s co-founders Frost Prioleau and Paul Harrison to scale up, targeting independent agencies and local advertisers. Blackstone’s investment will allow the company to accelerate its growth and execute its acquisition strategy as the company captures more business with the shift in local media spending on digital and connected TV, according to the statement.

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    Source: Bloomberg

    By Heather Perlberg

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