Seeking Alpha

Velti obtains court approval for sale of mobile marketing ops

  • With no higher bids having arrived, a bankruptcy court has given its final blessing to the sale of Velti's (VELT) mobile marketing ops to affiliates of Blackstone's credit unit. The deal is expected to close shortly. (PR)
  • Velti struck a deal to sell the businesses to Blackstone in early November, in tandem with its Chap. 7 and Chap. 11 bankruptcy filings. Shares were voluntarily delisted from the Nasdaq a few weeks afterwards.
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