DraftDay Gaming Group, a joint venture between Viggle Inc. and Sportech Digital, has acquired fantasy sports company DraftDay from MGT Capital Investments.
“By combining and capitalizing on the well-established operational business assets of DraftDay, Sportech and Viggle, the new company is well-positioned to become a significant player in the explosive fantasy sports market,” said a statement from the company.
Viggle owns the majority share at 44 percent, Sportech Digital 35 percent, 10 percent MGT Capital with the remaining balance owned by company employees and shareholders.
Robert F.X. Sillerman is Chairman of the Board of the DraftDay Gaming Group with Sportech Digital president, Rich Roberts, as chief executive officer.
Nic Sulsky, formerly part of the Sportech Digital team, will serve as president, and John C. Small, chief financial officer of Viggle, has been named chief financial officer of DraftDay Gaming Group.
Larry Kom, formerly chief information officer of MGT, will become part of the DraftDay team as chief technology officer working alongside the entire product development team.
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Comments (1)
sharpe
09/12/15, 12:09:44 PM
I think fantasy sport market is on the rise in the last couple of years so almost every company which decided to invest in it will be rewarded in the end. This acquisition...
I think fantasy sport market is on the rise in the last couple of years so almost every company which decided to invest in it will be rewarded in the end. This acquisition will be definitely a good move from Viggle/Sportech but probably it will take some time before they starts benefiting from that.
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