Blank Rome Represents Paddy Power Betfair plc in Acquisition of StarStreet, Inc.
Blank Rome represented Paddy Power Betfair plc in its acquisition of StarStreet, Inc., an early stage, U.S. based daily fantasy sports operator, pursuant to a Merger Agreement.
The Merger Consideration was comprised of $19 million of initial cash consideration paid upon closing and up to $29 million of additional consideration to be paid upon achievement of specified performance targets over the next four years. The acquisition provides Paddy Power Betfair plc with exposure to a fast growing market and complements its other businesses in the United States.