Versant Sells SportsEngine to PlayMetrics, Shifting Focus on Core Business Areas

What's Happening? Versant, a media company led by Mark Lazarus, has sold SportsEngine, a platform for youth and local team sports management and streaming, to PlayMetrics. The terms of the deal were not disclosed. Versant, which has been actively acquiring digital businesses, decided to sell SportsE

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What is the story about?

What's Happening?

Versant, a media company led by Mark Lazarus, has sold SportsEngine, a platform for youth and local team sports management and streaming, to PlayMetrics. The terms of the deal were not disclosed. Versant, which has been actively acquiring digital businesses,

decided to sell SportsEngine as it did not align with its core focus areas, which include business news, personal finance, political news, and sports entertainment. PlayMetrics, led by CEO Mike Doernberg, aims to enhance its technology offerings for youth sports through this acquisition. Will McIntosh, President of Digital Platforms and Ventures at Versant, expressed pride in the platform built by SportsEngine and confidence in its growth under PlayMetrics.

Why It's Important?

The sale of SportsEngine to PlayMetrics highlights a strategic shift for Versant, allowing it to concentrate on its primary business areas. This move could potentially strengthen PlayMetrics' position in the youth sports technology market, offering enhanced services to its customers. For Versant, divesting from non-core assets like SportsEngine could lead to more focused investments and growth in its key sectors, potentially impacting the media landscape by consolidating its resources in areas where it seeks to lead.