Velti plc has said that it has closed the sale of its mobile marketing business to affiliates of GSO Capital Partners LP, the credit division of Blackstone.
The transaction includes the sale of business lines operated by Velti Inc. and Air2Web Inc. in the U.S., Air2Web India, Velti DR Limited and Mobile Interactive Group, Limited in the U.K., and Velti Netherlands B.V. in the Netherlands.
The remainder of the company?s business lines, primarily consisting of its performance marketing business unit operated out of Greece, and with business in Central and Eastern Europe and the Middle East, will continue to operate normally.
