MOBILE TECHNOLOGY AND MARKETING FIRM GETS INTO DAILY FANTASY SPORTS
SinglePoint acquires another daily fantasy sports operator.
The Seattle-based mobile technology and marketing firm SinglePoint has acquired its second daily fantasy sports company after signing a deal with DraftFury.
Our readers will recall that earlier this year the company acquired Hawaii-based GoDraft using “cash and restricted common stock", commenting that it was the first of several future planned acquisitions.
The terms of the agreement with DraftFury were not revealed, although SinglePoint did disclose that the acquisition was valued at $8 million, and that the consideration would be paid in a combination of SinglePoint common stock and cash.
DraftFury currently offers skill-based DFS contests on the North American NBA basketball league, NFL American football competition and MLB baseball.
Greg Lambrecht, chief executive of SinglePoint, said the new acquisition is a good company with sound management and a unique seven-level referral program, along with an optimised interface providing a superior gaming experience for users.