Endeavor Acquires Neulion
NeuLion, a technology product and service provider, has been acquired by Endeavor, the holding company formerly known as WME-IMG.
NeuLion specialises in the digital video broadcasting, distribution and monetisation of live and on-demand content to internet-enabled devices.
Under the terms of the agreement – an all-cash deal valued at approximately $250m – Endeavor will acquire each share of outstanding common stock of NeuLion for $0.84. Upon completion of the transaction, NeuLion will become a privately held subsidiary of Endeavor.
NeuLion has an active presence in the UK, particuarly through a partnership with the EFL for its EFL Digital offering across clubs, as well as clients such as the NFL, Euroleague, NBA, Sky Sports and UFC.
“We’re excited by the value delivered to our stockholders through this transaction, and we’re looking forward to the dynamic opportunities that being part of the Endeavor family will provide for both our current and new clients,” said Roy Reichbach, president & CEO of NeuLion.
Ariel Emanuel, CEO of Endeavor, added: “Through our content portfolio, client base, and broader network of rights holders we’ve encountered many different platforms for distributing and monetizing content.
“NeuLion provides an ideal combination of technology and client services, and we’re excited for the value this brings to our existing partners and the foundation it provides for our future digital growth.”
The transaction, unanimously approved by NeuLion’s board of directors and by the written consent of holders of a majority of NeuLion’s outstanding common stock, is subject to regulatory approvals and other closing conditions, and is expected to close in the second quarter of 2018.
