Versant Transfers Youth Sports Platform SportsEngine to New Ownership
Versant has officially announced the sale of SportsEngine, a digital specialist in youth sports, to PlayMetrics, a firm operating within the same sector. This move reflects Versant’s long-expected strategy for mergers and acquisitions following its spin-off from Comcast.
The divestiture of SportsEngine aligns with Versant’s plan to streamline its portfolio, which focuses on four strategic pillars: business news and personal finance, political news and opinion, golf, and sports and genre entertainment. SportsEngine was previously acquired by NBCUniversal in 2016 and had been gradually integrated into NBCU’s expansive sports and digital assets.
For those not involved in youth sports, the significance of SportsEngine may not be immediately apparent. However, industry stakeholders recognize its substantial value. SportsEngine provides a suite of software and payment products tailored for club teams, youth leagues, and tournaments, along with a management platform that facilitates operations in this increasingly lucrative sector.
Additionally, the platform offers live streaming services for events, a notable benefit for families monitoring games nationwide. The company has seen remarkable growth, rising from approximately 9,000 streamed events three years ago to a projected 200,000 in the current year.
At Versant’s investor day last December, the future of SportsEngine was a focal point, with CFO and COO Anand Kini discussing potential strategies during Versant’s earnings call in March. “We’re evaluating kind of value maximizing alternatives for that business,” Kini stated. He further noted, “We see a lot of consolidation in youth sports market-wide, so we think it’s the right time for this review, but we haven’t made a decision yet. Just to be very clear, we like SportsEngine. It’s been a very good business for us…so we’re only going to pursue opportunities that genuinely maximize value for the long term.”
The specific terms of the sale have not been made public.
PlayMetrics has expressed that the acquisition will enhance its capacity as an operating system for all participants in the youth sports ecosystem. CEO Mike Doernberg highlighted the significance of the deal, stating, “It accelerates that mission further and faster than we could before.”
Will McIntosh, president of digital platforms and ventures at Versant, remarked on the sale, stating that SportsEngine is “a high-quality business with a strong offering in the youth sports ecosystem, and we are proud of the platform we’ve built.” He added that the transaction “reflects a strong outcome for Versant and positions SportsEngine for continued growth under PlayMetrics’ leadership.”
