Versant is only a few months old, but it continues to cut deals. This time, however, it is a seller, not a buyer.
The Mark Lazarus-led media company has sold SportsEngine, a youth and local team sports management and streaming platform, to PlayMetrics. Terms of the deal were not disclosed.
Versant is has been a buyer of digital businesses since it launched, including of Free TV Networks and StockStory, with a heavy emphasis on its core areas of business news and personal finance; political news and opinion; golf; and sports and genre entertainment.
SportsEngine is a services company in the youth sports space, not really relevant to those areas, even if it is a solid business.
“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 Doernberg, CEO of PlayMetrics. “SportsEngine customers can expect the same great service they rely on today and will gain access to the full depth of technology offerings PlayMetrics has built. Our goal is singular and we won’t stop until we’ve achieved it: build the best platform for youth sports operators.”
“SportsEngine is a high-quality business with a strong offering in the youth sports ecosystem, and we are proud of the platform we’ve built,” said Will McIntosh, President of Digital Platforms and Ventures at Versant. “This transaction reflects a strong outcome for Versant and positions SportsEngine for continued growth under PlayMetrics’ leadership.”
Versant had previously indicated that SportsEngine could be sold, having noted a strategic review of its portfolio.
Versant’s brands include CNBC, MS NOW, Golf Channel, E!, USA Network and USA Sports, and Fandango.
