Velti obtains court approval for sale of mobile marketing ops

|By:, SA News Editor

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.