Private equity investor LDC has exited its investment in Blis to T-Mobile following a successful three-year partnership, in a transaction that values the business at $175m.
LDC invested in advertising solutions provider Blis in June 2022, backing the management team led by founder and CEO Greg Isbister.
With LDC’s support, the London-based firm has invested heavily in its technology platform, people and expanded its client relationships, resulting in a 75% increase in turnover since the partnership began.
The company’s headcount also grew from 240 to more than 320 on the back of significant expansion across Europe, the US and Asia.
Blis says the move will bolster T-Mobile’s ability to deliver more addressable omnichannel advertising with future-proof, cookie-less technology and targeting capabilities.
“We’ve been on a remarkable journey since LDC’s investment in 2022,” said Isbister.
“The team have helped us to capitalise on opportunities for growth and supported continued investment in our technology platform and our people. We can’t wait to see what we can achieve next as part of T-Mobile’s international group of companies.”
Vinayak Hegde, consumer chief marketing officer, T-Mobile, added: “Our early pilots with Blis showed us the power of its addressability, especially on mobile devices where standard identifiers fall short.
“It’s a key addition to our broader suite of ad tech partners and we’re excited about its potential – not just for T-Mobile’s own campaigns, but for other marketers as well.”
David Andrews, partner, LDC continued: “Blis is a prime example of an innovative technology provider disrupting the advertising industry. Today brands of every size want solutions that let them connect meaningfully with their audiences while respecting their privacy.
“Greg and his team have created a business that does just that, allowing brands and agencies to identify and target relevant audiences across channels with its cookie-less, future-proof technology.
“The sky is truly the limit as they enter an exciting new phase with T-Mobile. It has been a pleasure working with Blis over the last three years and we wish them the best of luck.”