The executive team of the in-game advertising platform Bidstack has announced their acquisition of Bidstack Ltd and all operating entities of the group from the administrators of Bidstack Group PLC.
According to the announcement on LinkedIn, Bidstack stated that as part of the deal, James Draper, the founder & CEO, along with the executive team of Bidstack Ltd, have become significant majority shareholders.
Furthermore, the company ensures that contracts and client relationships will continue as usual under the new framework, while also securing jobs for the teams based in the UK and Europe.
“The acquisition marks a pivotal moment for the business’s next phase of growth,” said Draper. “Our technology is cutting-edge in the sports technology industry, and I am thrilled. I am proud that we are able to reward our ambitious and industry-pioneering team by having them as shareholders alongside myself.”
Unlocking Tremendous Potential
The CEO expressed gratitude to both staff and customers for their support during the strategic review, a period marked by uncertainty. Draper added that the support shown by customers highlights the strength of the relationships the company has nurtured over the years.
“The company can now focus on unlocking the tremendous potential to facilitate sports teams getting closer to their fans and enhancing the player experience through bringing their virtual IP to life, with real-time messaging, rewards, and engagements,” Draper further stated.
Bidstack’s executive management team consists of Draper, Lisa Hau as chief financial officer, Dave Garvey as chief legal officer, Will Stewart as chief product officer, and Daniel Barrigas as chief technology officer.
Aside from being an in-game middleware technology provider, Bidstack has expanded its offerings to include a monetization platform that leverages an off-engine content management system in gaming to diversify its portfolio.
