Nike Buys TraceMe

nikeNike, Inc. (NYSE: NKE), the Beaverton, Oregon-based designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities, acquired TraceMe, a Seattle, WA-based developer of an app for fans to engage with sports stars.

The amount of the deal was not disclosed.

The acquisition will enable Nike to support its content strategy on owned platforms.

Co-founded by Jason LeeKeenan and Russell Wilson in 2017, TraceMe provides Tally, a mobile-first web platform that powers immersive, free-to-play, real-time prediction experiences around sporting events. The system enables managers to deepen engagement, incentivizing recurring gameplay through prizes, increase ad opportunities with integrated sponsorships, and use big data to build direct relationships and capture insights.

The deal follows the purchase of Celect, a Boston, MA-based retail predictive analytics and demand sensing company, which was announced in August, 2019.

The company, whose brands include Nike, Converse, Hurley, and Jordan, recently released fiscal 2020 financial results for its first quarter ended August 31, 2019 with revenue increased to $10.7 billion, driven by growth across all geographies.
Revenues for the Nike Brand were $10.1 billion, up 10 percent on a currency-neutral basis driven by growth across NIKE Direct and wholesale, key categories including Sportswear and the Jordan Brand, and continued growth across footwear and apparel.
Revenues for Converse were $555 million, up 8 percent on a currency-neutral basis, mainly driven by double-digit growth in Asia and through digital globally, which was partially offset by declines in the U.S.



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