MGT Capital Investments has acquired the DraftDay fantasy sports business and software platform for a $600,000 price tag and approximately 100,000 shares of common stock.
Andrew Wiggins, co-founder of DraftDay said, "We have worked tirelessly to build an outstanding product and loyal player base. With MGT's support, DraftDay will have greater resources to grow this business to new heights. Our employees look forward to making MGT the market leader in daily fantasy sports."
"This acquisition represents a unique financially compelling opportunity and tremendous complement to our online gaming businesses," said Robert Ladd, chief executive officer of MGT. "DraftDay will elevate our fantasy sports segment to an entirely new level. We are very pleased to welcome the players and employees of DraftDay."
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