Data Management Group SSB Acquires StoneTimberRiver
SSB has acquired StoneTimberRiver LLC in a sports-heavy tech merger. Denver-based SSB is a data management and analytics company while StoneTimberRiver specializes in customer relationship management (CRM). "We'll be pushing over 100 people,” said SSB CEO Mike Banville of the combination with STR. The pair also have more than 100 pro sports, collegiate and entertainment clients. Banville said the two companies already share many of the same customers. “They’ve been great partner for many years. We just liked the culture, the fit,” said Banville. StoneTimber’s customers include the Celtics, Red Sox, NFL Giants, Cowboys, Spurs and Notre Dame. The NHL, Raiders, Bears, Penguins and colleges like Texas and USC highlight SSB’s client list. Financial terms of the deal were not disclosed. Banville joined SSB as CEO in February after private equity firm Strattam Capital took a majority stake in the company. After that, Banville started talking to STR about a potential merger. STR Founder & CEO Dwight DeBree will be staying on with the new combined company as will other employees. “We’re working on the integration plan,” Banville said. STR’s employees work virtually though the company has its official bases in DC and Scottsdale, Ariz. Banville said SSB will also look for additional and opportunistic growth acquisitions. “We’re shifting gears into a growth company,” he said.