Endeavor acquired NeuLion, a company whose behind-the-scenes technology powers streaming video delivery for such high profile sports clients as the NFL and UFC, in an all-cash deal valued at $250 million.
The deal will enhance the services Endeavor can provide to its sports clients.
“NeuLion provides an ideal combination of technology and client services, and were excited for the value it brings to our existing partners and the foundation it provides for our future digital growth,” Endeavor CEO Ari Emanuel said in a statement.
NeuLion has built a technological back-end to handle the digital video — from managing assets to distributing and monetizing the videos. The New York firms clients include some of the best known sports leagues, including the National Football League, The National Basketball Association, Ultimate Fighting Championship and Euroleague.
Under terms of the deal, Endeavor will acquire each share of outstanding NeuLion stock for 84 cents a share. Upon completion of the deal, soetime in the second quarter, NeuLion will become a privately held subsidiary of Endeavor.