TechTaffy

tech:

taffy

Fanatics Closes $150M Equity Investment

By TechTaffy Desk

[Techtaffy Newsdesk]

Fanatics,  an online retailer of officially licensed sports merchandise, has closed a $150 million equity investment. The funding was led by Insight Venture Partners, with participation from Andreessen Horowitz, and a $75 million line of credit led by Bank of America. The funds will also be used to support future growth of the business.

Fanatics  has also completed its acquisition of Dreams. Following the close of the $183 million Dreams acquisition, the company will also operate offices in the suburbs of both Philadelphia and Chicago.

Fanatics provides e-commerce, merchandising, marketing and fulfillment services for professional sports leagues and teams, collegiate athletic programs and conferences, and other major sports properties. In addition to its own Fanatics and FansEdge brands, Fanatics operates licensed sports merchandise e-commerce sites for its partners, including major professional sports leagues, professional and collegiate teams, media sites and sports apparel manufacturers.

Just in

Around the web

Apple deletes WhatsApp, Threads from China app store on orders from Beijing — CNN

Apple has removed WhatsApp and Threads from its app store in China, following an order from the country’s internet watchdog, writes Juliana Liu.
Industry

Singtel, Vonage partner to integrate Paragon platform

Singtel has announced a partnership with Vonage, a cloud communications company and subsidiary of Ericsson, to help enterprises and telcos innovate and scale their services through Singtel's orchestration platform, Paragon. 
Industry

Former VMware COO Mike Hayes joins Mirantis board

Mirantis, a company that provides open source software for infrastructure control, has appointed Mike Hayes to its board.
Industry

Boston Dynamics unveils fully-electric Atlas robot

Boston Dynamics is retiring its hydraulic Atlas robot and introducing a fully electric version of its humanoid robots. 
Industry

Tech giants urge EU to prioritize digital competitiveness and infrastructure investment

Five major technology companies - Ericsson, IBM, Intel, Nokia, and Vodafone - called on European policymakers to take urgent action to boost Europe's digital competitiveness and keep it a priority for the incoming European Commission.