SinglePoint expands into DFS with DraftFury deal
Full-service mobile technology and marketing company SinglePoint has finalised its purchase of an interest in daily fantasy sports (DFS) provider DraftFury.
Although terms of the deal were not fully disclosed, SinglePoint said that it made the acquisition using a company valuation of $8 million (€7.2 million).
The final transaction will be made using 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: “This is a great company with great management and a unique seven-level referral program and an optimised interface which provides a superior gaming experience for users.
“I am confident this will play an integral role in building shareholder value in the near term and invaluable relationships for the long-term.
“As well, SinglePoint is the only publicly traded company in the US markets I'm aware of how that allows shareholders to be involved in the DFS realm.”
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