Drury's company, Platinum One, and event management company, paid over £100,000 in cash and shares for Hastings International, set up by the rugby legend 10 years ago.
Hastings will stay on as full-time chairman of the Edinburgh company, which will be renamed Platinum One (Scotland), and will join Platinum's main board in Dublin.
He plans to use the Irish connection to expand beyond sport into new markets, reports The Scotsman. He also plans to move into the international conference market
Hastings International, which the former player runs with his younger brother Scott, helped to secure golf's Ryder cup for Scotland in 2014.
Gavin Hastings is expected to capitalise on his selection as an ambassador for Glasgow's 2014 Commonwealth Games bid to win further work.
Drury, a former TV presenter, is also chairman of Paddy Power, the bookmaker, and a non-executive director of Anglo Irish Bank.
The acquisition of Hastings International, which had a turnover last year of £400,000, gives Platinum One its first base in the UK.
