PlayON

LONDON: Formula One has made an investment in fantasy sports platform PlayON at a company valuation of £30 mmillion ($42.6 million).

PlayON will serve as the official daily fantasy partner of Formula One and run the new fantasy games. The deal includes the integration of live Formula 1 grands prix, via Formula 1's new media service F1 TV, on to the PlayOn platform in key markets.

“Formula One is continuously looking for ways to engage with new audiences, particularly in the digital space,” Formula One’s director of digital and new business, Frank Arthofer, said.