Versant is only a few months old, but it continues to make deals. But this time it is the seller, not the buyer.
The Mark Lazarus-led media company has sold SportsEngine, a youth and local collegiate sports management and streaming platform, to PlayMetrics. Terms of the deal were not disclosed.
Versant has been a buyer of digital businesses since launch, including Free TV Networks and StockStory, with a strong focus on its core areas of business news and personal finance; News and political opinion. golf; Sports and quality entertainment.
SportsEngine is a services company in the youth sports space, and not really relevant to those areas, even if it is a solid company.
“PlayMetrics has redefined what technology can do for youth sports – and this acquisition accelerates that mission further and faster than we could before,” said Mike Dornberg, CEO of PlayMetrics. “SportsEngine customers can expect the same great service they rely on today and will have access to the full depth of the technology offerings created by PlayMetrics. Our goal is unique and we won’t stop until we achieve it: to build the best platform for young sports operators.”
“SportsEngine is a high-quality company with a strong offering in the youth sports ecosystem, and we are proud of the platform we have built,” said Will McIntosh, Head of Platforms and Digital Ventures at Versant. “This transaction reflects a strong result for Versant and positions SportsEngine for continued growth under PlayMetrics’ leadership.”
Versant had previously indicated the possibility of selling SportsEngine, after noting a strategic review of its portfolio.
Versant’s brands include CNBC, MS NOW, Golf Channel, E!, USA Network, USA Sports and Fandango.
