The executive team at in-game advertising platform Bidstack have announced their acquisition of Bidstack Ltd and all operating entities of the group from the administrators of Bidstack Group PLC.
In the announcement on LinkedIn, Bidstack stated that as part of the deal, James Draper, founder & CEO, along with the executive team of Bidstack Ltd have become significant majority shareholders.
In addition, the company states that the agreement ensures that contracts and client relationships will proceed as usual under the new framework, while also securing jobs for the teams based in the UK and Europe.
“The acquisition is a pivotal moment for the next phase of growth for the business,” said Draper. “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.”
Taping an enormous potential
The CEO went on to thank both staff and customers for their support during the strategic review, a period marked by uncertainty. Adding that the solidarity shown by the customers underscores the strength of the relationships the company has cultivated over the years.
“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 from bringing their virtual IP to life, with real-time messaging, rewards and engagements,” added Draper.
Bidstack’s executive management team includes Draper, 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.
Aside from being an in-game middleware technology provider, Bidstack is also a monetisation platform that has since expanded its offerings to leverage “off-engine content management system in gaming” to diversify its portfolio.
