LONDON, UK / ACCESSWIRE / August 22, 2016 / Active Wall St. blog coverage looks at the headline from Dick's Sporting Goods Inc. (NYSE: DKS). Dick's Sporting Goods Inc. (NYSE: DKS), the largest US sporting goods retailer, announced its plans to acquire San Diego based Affinity Sports Inc., a sports management technology company, on Friday, August 19, 2016. The financial terms of the deal were, however, not disclosed. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.
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As per the terms of agreement, Affinity Sports will provide key services to various youth sports National Governing Bodies and large-scale organizations under the DICK'S Team Sports HQ platform.
Where is the symbiosis?
Pittsburg-based Dick's was launched in 1948. It has 645 locations and also owns and runs specialty stores Golf Galaxy, Field & Stream, True Runner, and Chelsea Collective. Affinity Sports was launched in 2002 and is a specialized sports technology company that provides software for state youth and adult soccer associations.
Commenting on the deal, Edward W. Stack, Chairman and CEO of DICK's said:
"We're excited to continue to grow our footprint in the important space of youth sports technology. The acquisition of Affinity Sports will help us to deliver an unparalleled service to some of the largest youth sports organizations in the country."
Mark Skeen, CEO of Affinity Sports said of the deal:
"We are thrilled to announce Affinity Sports' acquisition by DICK's. We are very excited about the future and, as always, our first commitment is to our customers. This acquisition provides our team with terrific resources to enhance our services, and our clients will immediately benefit from being a part of the DICK'S Team Sports HQ platform."
How Dick's shall benefit
Dick's, in January 2016, had launched Team Sports HQ, a single window platform offering youth sports leagues business offering services like online registration, websites, and custom uniforms. The acquisition of Affinity Sports will support Dick's ambitious plans and give it the technological insight to achieve its goals. Dick's Team Sports HQ will be able to manage online orders for leagues' designing of gears as well as orders for uniforms from coaches and parents with technological support using Affinity's expertise. This will also lead to better player and coach visibility with national or regional governing bodies and their associated leagues. Affinity's expertise in this field will make the entire process simpler and easier to handle.
Dick's will get access to Affinity's customers that include, US Youth Soccer State Associations and US Adult Soccer Associations (USASA). As part of its community program to encourage and enable participation in sports, Dick's Team Sports HQ will even offer sponsorships and support to leagues, teams, athletes, and outdoor enthusiasts.
The sports goods space is seeing consolidations in recent times. In June 2016, Dick's had acquired the intellectual property of bankruptcy riddled Sports Authority brand via an auction with a winning bid at $15 million.
Stock Performance
On August 19, 2016, the stock closed at $58.84, up 0.75% on a total volume of 2.26 million shares traded. Dick's stock price has soared 67.61% since the beginning of the year.
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