RTTNews | Jun 28, 2021 07:50AM EDT

07:49 Monday, June 28, 2021 (RTTNews.com) - Blackstone (BX) agreed to make a significant equity investment in Simpli.fi, a provider of programmatic advertising and agency management software. The investment, which would be made through Blackstone's flagship private equity vehicle, values Simpli.fi at about $1.5 billion.

Blackstone will join existing investor GTCR, a private equity firm, as majority shareholders in Simpli.fi.

Blackstone and GTCR will have equal representation on the Simpli.fi Board of Directors.

GTCR acquired a majority interest in the Company in 2017 and, alongside co-founders Frost Prioleau and Paul Harrison, has helped build Simpli.fi into a scaled and rapidly growing platform that uniquely serves the needs of independent advertising agencies and local advertisers.

Read the original article on RTTNews ( https://www.rttnews.com/3205379/blackstone-to-make-significant-equity-investment-in-simpli-fi.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved