Fantasy Sports Startup SportsHub Technologies Announces Two Acquisitions
SportsHub Technologies LLC, a startup within Minneapolis’ booming sports technology ecosystem, on Monday acquired fellow local startup LeagueSafe LLC.
SportsHub CEO Rob Phythian described the deal as a strategic investment for the company, as the consumer protection product provided by LeagueSafe is said to be the only one of its kind in the fantasy sports industry.
“LeagueSafe provides fantasy players with the convenience and safety of paying fantasy dues online, with the security of knowing their entry fees will be paid out,” said Phythian in a statement. “With over 57 million people playing fantasy sports in North America, we have an enormous opportunity to capitalize on the established technology that LeagueSafe has created and roll out more sophisticated payment technology for both the season long and daily fantasy sports industries.”
SportsHub creates tools and products catering to fantasy sports users and fans of professional sports leagues, including the National Football League, NASCAR, and the Professional Golfers Association.
Details of the transaction, including the purchase price for LeagueSafe, were not disclosed.
The company also announced its purchase of the assets of the National Fantasy Championship (NFC) from STATS, a Chicago-based sports data and technology company.
Details of the deal were not disclosed, but SportsHub anticipates its NFC ownership will allow it to better connect to “some of the highest value fantasy sports fans and most loyal users in the world.”
According to Phythian, the high-stakes contests and events run by the NFC cater to the “high-end fantasy sports participant” and will help SportsHub by “adding many new possibilities to [its] long-term strategy.”
NFC’s events focus on a variety of professional sports leagues, including the NFL, Major League Baseball and the National Basketball Association. In the 12 years it has operated, the NFC has awarded more than $37 million in prize money.
STATS said it would continue to be the official provider of data and scoring for the NFC.
Since its founding in 2015, SportsHub has been on a buying spree. Both of Monday’s deals bring the company’s 2016 acquisition total up to four.