Woodbridge International Closes Sale of Stretch Internet to Battery Ventures in 169 days
May 2, 2018
Woodbridge International, a global mergers and acquisitions firm, is pleased to announce the acquisition of its client, Stretch Internet by CE Holdco, LLC, a portfolio company of Battery Ventures, Boston, Mass.
Stretch Internet LLC, located in Gilbert, Arizona, is the #1 streaming provider in the U.S. collegiate athletic space, catering to 40% of the 1,300+ four-year schools in the major athletics organizations (NCAA and NAIA) and partnering with 32% of all collegiate conferences. In 2017, Stretch was named to the Inc. 5000 list of the fastest growing-privately held companies in the U.S.
“We are thrilled to announce the acquisition of Stretch Internet by Battery Ventures,” said Stretch Internet founder Ryan Ermeling. “When Battery first reached out to us several months back, they shared a compelling narrative about their vision for building a comprehensive college sports division, and we’re excited to become a pivotal part of that plan. Stretch Internet already has some exciting initiatives that will carry the company forward in dramatic ways, and this acquisition only accelerates that journey.”
Ryan Ermeling, who started the company in his garage in 2003, will serve in a consultative role as Battery formulates its plans for the new venture.
Battery Ventures, is a global, technology focused investment firm pursuing the most promising companies and ideas. Founded in 1983, the firm makes venture-capital and private equity investments from offices in Boston, Silicon Valley, London and Israel. Battery Ventures has invested in more than 300 companies over their 35-year history.