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Apollo-Led Investor Group in Advanced Talks to Buy Stake in AppsFlyer for $2B
An Apollo-led group of investors is poised to enter exclusive talks to buy a stake in analytics company AppsFlyer for approximately $2 billion, according to sources.
Apollo and Israel-based private equity firm Fortissimo Capital are looking to acquire a combined stake of about 45% in the company, with the U.S. private equity giant leading the investment. The deal is expected to be in the form of structured equity, said one source.
Other minority investors are in discussions to acquire a 20% stake in AppsFlyer, the sources said.
Goldman Sachs is serving as financial advisor to the mobile marketing analytics and attribution company, said one source.
The news was first reported by Israeli tech news site Calcalist.
AppsFlyer is a marketing cloud company that offers measurement, analytics, engagement and fraud protection technologies for mobile and cross-platform marketing. On Jan. 13, the company announced a collaboration with Amazon Web Services to accelerate AI-driven marketing measurement, according to a press release.
Founded in 2011 in Israel, AppsFlyer is now headquartered in San Francisco, serving 15,000 businesses worldwide, according to its website.
The software-as-a-service company secured a $210 million Series D funding round led by General Atlantic in 2020. To date, it has raised about $300 million from shareholders including Israel’s Qumra Capital and Goldman Sachs’ growth fund.
AppsFlyer is a privately held company co-founded by Oren Kaniel and Reshef Mann. The company originally planned to go public in 2024 and had hired Goldman Sachs, JPMorgan and Bank of America to lead the effort, according to a report at the time.
Recent deals in the technology sector include SaaS platform Clearwater Analytics, which was acquired by a Permira- and Warburg Pincus-led investor group for about $8.4 billion in December.
Elsewhere, at the start of this month, Hg announced its $6.4 billion take-private acquisition of software developer OneStream. The private equity firm is lining up a roughly $1.6 billion ARR loan from private lenders to back the deal, as reported.
Apollo Global Management, Goldman Sachs and General Atlantic declined to comment. AppsFlyer did not return a request for comment. Fortissimo Capital could not be reached as of press time.
Disclosure: Funds associated with Permira hold a majority interest in the parent company of Octus.
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