Versus Systems says “teams have merged well” after “transformative” acquisition of Xcite Interactive

Versus Systems Inc CEO Matthew Pierce told shareholders that the firm has closed the “transformative” acquisition of Xcite Interactive and that he is thrilled to see “how well the teams have merged”.

In June this year, Versus Systems completed its previously announced $15.2 million cash and stock acquisition of Xcite Interactive Inc. Versus will add its proprietary prizing engine to Xcite’s newly developed XEO fan engagement platform, which is already in use with multiple professional sports teams and live major events.

In a corporate update, Pierce said: “Versus Systems had a remarkable second quarter, and that progress has continued into the third quarter. We closed the transformative acquisition of Xcite Interactive in June and are thrilled to see how well the teams have merged as we work to fully integrate the XEO technology into our Dynamic Regulatory Compliance prizing engine.”

READ: Versus Systems closes $15.2M acquisition of Xcite Interactive; plans integration of XEO fan engagement platform

“We have dozens of new partners, across a broad range of sports teams and live events, that can access our complete engagement platform, bringing real-life prizing to their audiences wherever they are,” he added.

This rewards-based engagement will expand into TV and streaming while capitalizing on Xcite’s connections with more than 150 sports teams and brands, the company said. The new Versus-XEO platform will allow fans to interact with their favorite shows, games and events to win real-world prizes inside apps, streams, and broadcasts.

“Entertainment and media is a $2 trillion dollar annual industry. From live events to TV to streaming to video games, people need to be entertained. We are the leader in second-screen engagement and fan experiences both in-stadium and at-home,” said Pierce.

“Everything we set out to do when we joined the Nasdaq, and when we acquired Xcite, we have either already accomplished or are in a much stronger position to do so. We are excited to continue bringing the Versus experience to more and more fans this fall and into the future.”

Versus also provided the following highlights:

• It drove fan engagement for six NHL teams, including the Stanley Cup-winning Tampa Bay Lightning, during the NHL Playoffs;
• Powered in-stadium fan engagement for the #MEXTOUR, the Mexican National Team’s annual multi-game soccer tour in the US;
• Powered fan engagement for the 2021 Bassmaster Classic to a record-breaking live crowd of nearly 150,000 people;
• Announced partnerships with Peach Bowl Inc and Military Bowl Foundation Inc; and
• Launched a Shopify App that allows ecommerce and small businesses to connect their stores to the company’s rewards platform

Contact the author Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive

Story by ProactiveInvestors