The executive team of Bidstack has acquired Bidstack Limited and all the operating entities of the Group, from the administrators of Bidstack Group PLC. The deal sees James Draper, Founder & CEO, and the executive team of Bidstack Ltd become significant majority shareholders.
All contracts and client relationships will continue within the new ownership structure – safeguarding jobs for the UK and European-based staff.
Bidstack, the multi award-winning in-game middleware technology provider that initially set about bringing programmatic advertising revenue to the most renowned sports gaming franchises in the world, has diversified into a broader offering, taking advantage of the most advanced off-engine content management system in gaming.
Following the announcement of a partnership with the Washington Commanders, where the NFL franchise became the first-ever sports team to utilise a platform to control advertising within their virtual stadium, across official NFL games, from multiple studios and developers, the management team has been focusing on sports rights holders as a key customer type.
The executive team has the support of the world’s leading rights-holder professionals in the sports industry. It will continue to execute from its position as the leading technology for the sports industry, for fan engagement and brand activations, in video games.
The executive management consists of James Draper continuing as Chief Executive Officer, with Lisa Hau stepping up to Chief Financial Officer, Dave Garvey continuing as Chief Legal Officer, Will Stewart moving to Chief Product Officer and Daniel Barrigas to Chief Technology Officer.
James Draper, Bidstack’s Founder & CEO, said: “The acquisition is a pivotal moment for the next phase of growth for the business. Our technology is at the forefront of sports technology, and I couldn’t be more excited. I am proud that we are able to reward our ambitious and industry-pioneering team and have them as shareholders alongside myself.”
“I want to thank the staff and customers for standing by us during this strategic review, which has obviously been an uncertain period. For all of our customers to have stood strong alongside us is testament to the relationships we’ve built over the years, as well as the incredible staff we have here who have fostered those connections.
“The company can now focus on the enormous potential we have, to enable sports teams to get closer to their fans and improve the player experience by bringing their virtual IP to life, with real-time messaging, rewards and engagements.
“Thank you to the management team who have invested to protect the incredible work our talented group has produced. It’s extremely motivating to see the unwavering belief we collectively have in our vision and product. Sadly, the public market is an uncertain place currently, and it’s a challenging environment for growth businesses such as ours.
“The interest and support we’ve had from some of the leading players in the sports industry has given our team great confidence and motivation as we work with some of the world’s largest sporting franchises and leagues.
“Thank you to everyone’s support and to our Board of Directors, who have assisted myself and management throughout.”
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