Versant sells SportsEngine to Playmetrics

Versant, the media company recently spun off from NBCUniversal, has sold SportsEngine’s assets to Playmetrics, part of a strategy to refine its holdings and better focus on different types of assets.

The financial terms of the transaction were not disclosed.

SportsEngine provides technology and services related to team and tournament management of youth sports. Versant, which owns cable networks such as MS NOW, CNBC and USA, delves into properties related to business news and personal finance; political news and opinion; golf; and sports and genre entertainment.

Playmetrics provides operational management software for youth sports organizations.

“SportsEngine customers can expect the same great service they rely on today and get access to the full depth of the technology offering that PlayMetrics has built. Our goal is unique and we won’t stop until we achieve it: building the best platform for youth sports operators,” said Mike Doernberg, CEO of PlayMetrics, in a statement.

Versant executives indicated in March that they were interested in exploring alternatives to SportsEngine. “We’re seeing a lot of consolidation in youth sports across the market, so we think this is the right time for this review, but we haven’t made a decision yet. To be clear, we like SportsEngine. It’s been a very good thing for us,” said Versant CFO and COO Anand Kini=, during a recent investor call, noting that “we’re only going to pursue opportunities that really maximize long-term value.”

Ropes & Gray acted as legal advisor and LionTree Advisors acted as exclusive financial advisor to PlayMetrics. Gibson Dunn acted as legal advisor and Lazard acted as exclusive financial advisor to Versant.