FantasyDraft pulls out of Fantasy Aces takeover
DFS operator nixes deal due to “issues identified” during its due diligence process
FantasyDraft has announced its deal to acquire the player database of rival DFS operator Fantasy Aces has fallen through, just five days after it was first announced.
The deal, which was relayed to the market on Thursday, was expected to be completed in three to five days, but FantasyDraft said Monday night it could not complete the transaction.
“Unfortunately, because of issues identified during our due diligence, we are unable to purchase the assets of FantasyAces,” the firm said in a statement.
“We will continue to provide the best possible daily fantasy experience for our users, and are committed as always to putting our players first.”
The deal would have combined two of the largest DFS operators outside of FanDuel and DraftKings.
FantasyAces had not issued a statement or responded to EGR Intel’s request for comment at the time of publication.
Its website remained blank except for a notice saying: “An update coming shortly, please stand by”.
Trading in the firm remained halted on the TSX Ventures exchange.