MagicLab-owners Blackstone Group have made a strategic minority equity investment in the UK-based marketing agency HH Global.
The deal is believed to be worth £100 million and is expected to be finalised in Q1 2020.
HH Global employees more than 1,300 workers and has worked on campaigns for companies like Google, Samsung and Uber in the past.
Raphael de Botton, Managing Director of Blackstone, said in a statement: “We look forward to working with [HH Global’s Group CEO] Robert MacMillan and the excellent management team he has assembled.
“The Company is one of the few truly global operators in the market, which we believe is a strong differentiator to capture the exciting growth ahead of us. We look forward to supporting HH Global’s impressive growth trajectory, both organically and through M&A.”
MacMillan returned the compliment and explained that he hopes the partnership will accelerate growth, broaden the service offerings and open more international expansion opportunities.
Blackstone Group shocked the online dating industry at the beginning of November when it bought MagicLab for $3 billion. As part of the deal, Andrey Andreev stepped down from his position as CEO and was replaced by Bumble founder Whitney Wolfe Herd.
The investment firm currently holds $554 billion in assets and is aiming for $1 trillion by 2026.
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