Simpson Thacher is representing Liftoff Mobile, Inc. (“Liftoff”) and private equity funds managed by Blackstone (“Blackstone”) in connection with Blackstone’s agreement to sell a minority stake in Liftoff to General Atlantic at a $4.3 billion valuation. Blackstone will remain as the majority shareholder of Liftoff. The transaction is subject to regulatory approvals and customary closing conditions and is expected to close in mid-2025.
Liftoff is a leading AI-enabled end-to-end platform that enables mobile developers to build, drive discovery of, and monetize their apps. Blackstone drove the formation of the company from the transformative merger of its portfolio companies Liftoff and Vungle in 2021, which combined two scaled and highly complementary industry leaders.
The Simpson Thacher team includes Anthony Vernace, William Allen, Malik Ladhani, Jacob Kornman and Jaylen Amaker (M&A); Jonathan Ozner, Lia Toback and John Hotes (Capital Markets); Sophie Staples, Edward Grais and Jiha Min (Tax); Gregory Grogan, Alan Fenyes and Abigail Janik (Executive Compensation & Employee Benefits); Catherine Burns and Roman Ibragimov (Banking & Credit); Caroline Geiger and Dewey Kang (IP); Krista McManus (Real Estate); and Steven DeLott (Insurance).