Bloomberg Sports will be sold to STATS for an undisclosed amount that some estimate to be between $15 million and $20 million. Bloomberg Sports was started in 2010 and has grown to a staff of 30 analysts and engineers. Bill Squadron of Bloomberg will stay with the project, providing STATS with alogrithms and quantitative models that allow STATS to create predictions about the outcomes of games and matches.
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Squadron said, “We’ve built a really strong team of mathematicians. That’s going to be a really big growth area. To drive it together and get there a lot quicker.” The service will help teams, those who bet on games and fantasy sports players. This is STAT’s first acquisition since it was acquired by private equity firm, Vista Capital Management. It will also buy the stake in Bloomberg Sports that IMG Worldwide purchased two years ago, at $6 million to$8 million for a third of the venture.