General Atlantic Nears Minority Stake Acquisition in Liftoff

General Atlantic has agreed to acquire a minority stake in Liftoff, a mobile app marketing and monetization platform, from majority shareholder Blackstone. The investment is expected to help Liftoff expand its Cortex AI platform, strengthen its role in the growing app economy, and pursue further mergers and acquisitions. Liftoff, formed in 2021 through the merger of Liftoff and Vungle under Blackstone's leadership, has rapidly grown and works with major brands to acquire and retain app users. The deal could value Liftoff at over $4 billion, though it remains subject to regulatory approval and has not yet closed. Blackstone will retain its majority stake, with General Atlantic seeking to support Liftoff’s continued growth in the mobile marketing sector. Financial and legal advisors involved include Goldman Sachs, Jefferies, Simpson Thacher & Bartlett, Morgan Stanley, and Paul Weiss.