Versant Sells Youth Sports Platform SportsEngine to Playmetrics
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Versant, the media company recently spun off from NBCUniversal, has sold the assets of SportsEngine to Playmetrics. The sale aligns with Versant's strategic focus on business news, political commentary, and sports entertainment, while Playmetrics expands its operations management software for youth sports organizations.
Facts First
- Versant has sold SportsEngine's assets to Playmetrics, a deal first explored as an alternative in March.
- SportsEngine provides technology for managing youth sports teams and tournaments, a market Playmetrics also serves.
- Versant is focusing its portfolio on business news, personal finance, political news, golf, and genre entertainment.
- The transaction involved multiple financial and legal advisors, including Lazard for Versant and LionTree Advisors for Playmetrics.
What Happened
Versant sold the assets of SportsEngine to Playmetrics. The financial terms of the transaction were not revealed. SportsEngine provides technology and services for youth sports, while Playmetrics provides operations management software for youth sports organizations. Versant's CFO and COO, Anand Kini, stated during a recent investor call that the company was interested in exploring alternatives for SportsEngine in March.
Why this Matters to You
If you are involved in youth sports as a parent, coach, or administrator, the consolidation of two major technology providers could lead to more integrated software solutions for managing teams, schedules, and payments. This may simplify administrative tasks for local sports leagues.
What's Next
The integration of SportsEngine's assets into Playmetrics's platform is likely to be the next operational step. For Versant, the sale allows the company to continue focusing its resources on its core cable outlets and strategic areas like business news and sports entertainment.