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Blackstone Signs Agreement to Invest in TaskUs

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Private Equity funds managed by Blackstone (NYSE:BX) have entered into a
definitive agreement to invest in TaskUs, a leading customer service and
business process outsourcing services provider for high-growth
technology companies. The investment, before funding, values TaskUs at
more than $500 million.

Founded in 2008 by Bryce Maddock and Jaspar Weir, TaskUs is one of the
fastest-growing companies in its industry globally. Their business
process solutions, which leverage the latest technology, including
AI, advanced Learning Management Systems and big data, help companies
quickly scale. TaskUs will continue to be led by Mr. Maddock, Mr. Weir,
and the existing management team, who have been instrumental in driving
the company's growth.

Amit Dixit, Senior Managing Director at Blackstone, said: "The growth in
ride sharing, social media, online food delivery, e-commerce and
autonomous driving is creating an enormous need for enabling business
services. TaskUs has established a leadership position in this domain
with its base of marquee customers, unique culture, and relentless focus
on customer delivery. We are excited to partner with Bryce, Jaspar and
the existing management team to build the world's leading company in
this area. With access to capital from Blackstone, as well our two
decades of experience with BPO companies, we are confident that our
investment in TaskUs can significantly accelerate the company's growth
trajectory."

Bryce Maddock, TaskUs co-founder and CEO, commented: "We chose to
partner with Blackstone because they have a track record at building
category-defining businesses. Our goal is to build TaskUs into the
world's number one provider of tech-enabled business services. This
partnership will help us dramatically increase our investment in
consulting, technology and innovation to support our customers' efforts
to streamline and refine their customer experience. We will also use
this investment to scale globally with new investments in Europe, India
and Latin America and continued expansion in the countries where we
operate today – the United States, the Philippines, Mexico and Taiwan. I
want to thank our investors, Navegar Partners, who are selling their
stake in this transaction, for an incredible three-year partnership."

Jaspar Weir, TaskUs co-founder and President, added: "TaskUs has always
emphasized the importance of employee experience as a key business
differentiator, an initiative Blackstone fully supports. We're excited
that they will continue to support our investments in creating a
world-class culture which drives innovation and enables us to deliver
the next generation of customer experience solutions to our clients.
This investment is truly a testament to the dedication of our amazing
team."

The transaction is expected to close in the fourth quarter of 2018,
subject to regulatory approvals and customary closing conditions.

About TaskUs

TaskUs provides next generation customer experience that powers the
world's most disruptive companies through the partnership of amazing
people and innovative technology. TaskUs provides ridiculously good
strategy and business process outsourcing utilizing revolutionary
technology and the best talent to deliver transformational, digital
scale. To find out more visit www.TaskUs.com.

About Blackstone

Blackstone is one of the world's leading investment firms. Blackstone
seeks to create positive economic impact and long-term value for our
investors, the companies it invests in, and the communities in which it
works. Blackstone's asset management businesses, with approximately
US$440 billion in assets under management, include investment vehicles
focused on private equity, real estate, public debt and equity,
non-investment grade credit, real assets and secondary funds. Further
information is available at www.blackstone.com.
Follow Blackstone on Twitter @Blackstone.

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