09:59 AM EDT, 08/15/2024 (MT Newswires) -- Blackstone's (BX) Blackstone Growth unit and affiliated funds have agreed acquired a majority stake in hospitality accounting software provider M3, M3 said Thursday.

Financial terms were not disclosed.

The investment is expected to support the expansion of M3's back-office accounting and financial software, it added.

Shares of Blackstone were up 1% in early trading.

Price: 137.52, Change: +1.36, Percent Change: +1.00