Tech Company M&A Transactions
Draft Acquisition
Draft was acquired by Paddy Power Betfair. The acquisition became public on 5/11/2017. Paddy Power Betfair said the transaction price was $48 million.
Transaction Overview
Company Name
Acquired By
Announced On
5/11/2017
Transaction Type
M&A
Amount
$48,000,000
M&A Terms
The Irish-based business, which is listed in London, has paid $19m (£14.6m) for Draft. Paddy Power said Draft's revenue had grown rapidly in recent years in a market which made more than $300m in revenue in 2016 and the amount it ends up paying for the business could rise by $29m - meaning a total price of $48m - in the next four years depending on the performance of the business.
Company Information
Company Status
Acquired or Merged
Industry
Mobile
Mailing Address
40 W 28th St. 2nd Floor
New York, NY 10001
USA
New York, NY 10001
USA
Phone
Undisclosed
Website
Email Address
Not Recorded
Overview
The best new fantasy app of 2015. DRAFT is the easiest, most fun way to do fantasy drafts. Do a draft in just minutes versus your friends, or get matched with an opponent in seconds. You can play for pride or profit by winning REAL MONEY Drafts! Now with Football, Basketball, Hockey, Baseball & more!
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Jeremy Levine
Co-Founder
Nicolo Giorgi
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