M&A Deal Summary

Flutter Entertainment Acquires FanDuel

On May 23, 2018, Flutter Entertainment acquired digital media company FanDuel from KKR, Shamrock Capital Partners, CapitalG and WarnerMedia

Acquisition Highlights
  • This is Flutter Entertainment’s 1st transaction in the Digital Media sector.
  • This is Flutter Entertainment’s 2nd transaction in the United States.
  • This is Flutter Entertainment’s 2nd transaction in New York.

M&A Deal Summary
Date 2018-05-23
Target FanDuel
Sector Digital Media
Buyer(s) Flutter Entertainment
Sellers(s) KKR
Shamrock Capital Partners
CapitalG
WarnerMedia
Deal Type Add-on Acquisition

Target

FanDuel

New York, New York, United States
FanDuel, Inc. operates an online fantasy sports platform that enables users to play fantasy games and win cash prizes.

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Buyer(S) 1

Buyer

Flutter Entertainment

Dublin, Ireland
Category Company
Founded 1958
Sector Gaming
Employees23,053
Revenue 11.8B GBP (2023)
DESCRIPTION

Flutter Entertainment is a betting and gaming company. Flutter Entertainment was founded in 1958 and is based in Dublin, Ireland.

DEAL STATS #
Overall 4 of 6
Sector (Digital Media) 1 of 1
Type (Add-on Acquisition) 2 of 4
State (New York) 2 of 2
Country (United States) 2 of 2
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-10 StarStreet

New York, New York, United States

DRAFT is mobile-led, has a differentiated product and a strong management team. The business will continue to be run by Co-CEOs Jeremy Levine and Jordan Fliegel and will now have access to the Group's marketing and technology capabilities.

Buy $19M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-04 The Stars Group

Toronto, Ontario, Canada

The Stars Group is a designer, developer, manufactures, distributes, sells, and services technology-based gaming solutions for the regulated gaming industry worldwide. The Stars Group was founded in 2004 and is based in Toronto, Canada.

Buy -

Seller(S) 4

SELLER

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1976
PE ASSETS 267.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.

DEAL STATS #
Overall 113 of 205
Sector (Digital Media) 3 of 3
Type (Add-on Acquisition) 40 of 67
State (New York) 4 of 9
Country (United States) 53 of 89
Year (2018) 10 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-18 Mehiläinen

Helsinki, Finland

Mehiläinen provides a full range of healthcare and social care services through a comprehensive network of over 360 units and employing more than 14,000 professionals. Healthcare services ranges from outpatient clinics, occupational healthcare, specialist care and dental care, whereas social care services include elderly care, and disabled, mental rehabilitation, and child welfare. Mehiläinen was founded in 1909 and is based in Helsinki, Finland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-29 BMC

Houston, Texas, United States

BMC is a systems software provider which helps enterprise organizations manage and optimize information technology across cloud, hybrid, on-premise, and mainframe environments. BMC was established in 1980 and is based in Houston, Texas.

Buy -
SELLER

Shamrock Capital Partners

Greensboro, North Carolina, United States
Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

Shamrock Capital Partners is a private investment firm focused on real estate development, retail products, and early stage companies. Within retail, the Firm looks to back suppliers and distributors of private label and branded products to global retailers. Shamrock Capital Partners was formed in 2003 and is based in Greensboro, North Carolina.

DEAL STATS #
Overall 2 of 2
Sector (Digital Media) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (New York) 1 of 1
Country (United States) 2 of 2
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-13 FanDuel

New York, New York, United States

FanDuel, Inc. operates an online fantasy sports platform that enables users to play fantasy games and win cash prizes.

Buy -
SELLER

CapitalG

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Corporate Investor
Founded 2013
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

CapitalG is the growth equity and direct investment arm of Alphabet, Inc. CapitalG invests in emerging tech-enabled service companies and assists with providing tactical advice across key functional areas such as engineering, product, sales, and marketing. CapitalG was formerly known as Google Capital. The Unit was formed in 2013 and is based in San Francisco, California.

DEAL STATS #
Overall 6 of 16
Sector (Digital Media) 1 of 1
Type (Add-on Acquisition) 2 of 3
State (New York) 1 of 3
Country (United States) 5 of 15
Year (2018) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-10 Robinhood

Menlo Park, California, United States

Robinhood operates as an institutional brokerage company. Robinhood offers commission-free trading in one, user-friendly platform. Robinhood is based in Menlo Park, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-11 Aye Finance

Gurgaon, India

Aye Finance is a new-age finance company providing business loans to ​​small and micro enterprises across India​. Aye Finance was founded in 2014 and is based in Gurgaon, India.

Buy -
SELLER

WarnerMedia

New York, New York, United States
Category Company
Founded 1985
Sector Media
Employees24,800
Revenue 28.1B USD (2015)
DESCRIPTION

WarnerMedia is a media and entertainment company. WarnerMedia consists of Turner, Home Box Office, and Warner Bros. Turner consists principally of cable networks and digital media properties. Home Box Office consists principally of premium pay television services domestically and premium pay and basic tier television services internationally. Warner Bros. consists principally of feature film, television, home video and videogame production and distribution. WarnerMedia was formerly known as Time Warner was established in 1985. The Company is headquartered in New York City.

DEAL STATS #
Overall 6 of 6
Sector (Digital Media) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (New York) 5 of 5
Country (United States) 5 of 5
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-13 FanDuel

New York, New York, United States

FanDuel, Inc. operates an online fantasy sports platform that enables users to play fantasy games and win cash prizes.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-21 You.i TV

Ottawa, Ontario, Canada

You.i TV provides a proprietary user-interface engine to enterprise-level media and telecommunications companies to create world class video applications that run across multiple media devices, including mobile phones, tablets, game consoles, smart TVs and set-top boxes. You.i TV was founded in 2008 and is based in Ottawa, Ontario.

Buy -
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