Versant, a media entity recently separated from NBCUniversal, has divested its SportsEngine assets to Playmetrics. This move is part of Versant’s strategy to streamline its portfolio and concentrate on diverse asset types.
The financial specifics of this deal have not been disclosed.
SportsEngine offers technology and services for managing youth sports teams and tournaments. Versant, which operates channels such as MS NOW, CNBC, and USA, is shifting its focus towards business news, personal finance, political news and opinions, golf, and various entertainment genres.
Playmetrics specializes in providing operational management software for youth sports organizations.
“SportsEngine customers can expect the same excellent service they depend on, along with access to the extensive technology offerings PlayMetrics has developed. Our mission is clear, and we are committed to achieving it: to build the best platform for youth sports operators,” stated Mike Doernberg, CEO of PlayMetrics.
In March, Versant executives indicated their interest in exploring options for SportsEngine. “We observe significant consolidation in the youth sports market, making this the right time for a review. However, we haven’t made a final decision yet. To be clear, we value SportsEngine. It has been a strong business for us,” said Versant CFO and COO Anand Kini during a recent investor call, emphasizing that “we will only pursue opportunities that genuinely enhance long-term value.”
Ropes & Gray served as legal counsel, and LionTree Advisors acted as exclusive financial advisor to PlayMetrics. Gibson Dunn provided legal counsel and Lazard served as exclusive financial advisor to Versant.
