Clive Kabatznik, president and CEO of Silverstar Holdings, was proud to announce the sale of the company’s entire range of assets and holdings to FUN Technologies last week. The Canadian based public firm reportedly paid $3.85 million for the fantasy sports business based in Boca Raton.
"Over the past 12 months we have shifted our focus toward the acquisition of broad based entertainment software companies and platforms,” Kabatznik said. “As a result, Fantasy Sports was no longer viewed as a core holding to fuel our long-term growth.”

Silverstar’s CEO went on to say that the sale of the company’s assets will enable it to focus more closely on the acquisition and operation of businesses that suit its overall growth strategy. “We will use the proceeds from the sale for the repayment of debt and future acquisitions,” Kabatznik stated. “With approximately $15 million in cash and notes receivable, we are well positioned to take advantage of strategic opportunities as they may arise."
Silverstar Holdings generated approximately $2 million dollars from the sale.

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