More news about Sportradar

Swiss based sports data company Sportrader valued at EUR 2.1 Billion

11.07.2018 17:02
Data Sports

Sportradar has offered stake to two strategic investors at an enterprise value of EUR 2.1Bn. With this valuation, Sportrader becomes a new unicorn and is now aiming to invest in further artificial intelligence and global expansion.

Sportradar, based in St. Gallen, has grown into a global market leader in the sports data and digital content solutions space. The company is the nexus between sports and entertainment, serving leagues, news media, consumer platforms and sports betting operators with deep insights and a suite of strategic solutions to help grow their businesses. It is a partner with more than 1,000 companies in over 80 countries and serves as the official partner of the NBA, NFL, NHL, and NASCAR as well as FIFA and UEFA.

Recently, Sportrader announced that it has agreed to take on the Canada Pension Plan Investment Board (CPPIB) and Silicon Valley-based growth equity firm TCV as strategic investors. CPPIB, through its wholly-owned subsidiary, CPP Investment Board Europe S.à r.l., and TCV will together acquire a stake in Sportradar at an enterprise value of EUR 2.1Bn (~USD 2.4Bn.) from private equity firm EQT and certain minority shareholders.

Carsten Koerl, Founder and CEO, will retain his entire ownership position in Sportradar and will continue to drive its future development and growth. EQT will also reinvest a portion of its sale proceeds into Sportradar. Additional existing shareholders include Revolution Growth, Ted Leonsis, Michael Jordan, and Mark Cuban.

“Having two new investors with a strong North American footprint is ideal given our increasing focus and expanding operations in the U.S., as the sports industry evolves to meet the expectations of today’s sports fans. Sportradar will continue to develop best-in-class, integrity and technology- driven services as we expand into new market segments, and we’re excited to have such a strong team behind us”, said Carsten Koerl, CEO of Sportradar.

EQT initially invested in Sportradar through its fund EQT Expansion Capital II in 2012, and subsequently invested through its fund EQT VI in 2014. During its partnership with EQT, Sportradar has seen positive organic and acquisition-based growth at approximately 40% revenue growth annually, has grown its presence in Europe, the United States, and Asia and employs over 1,900 people in more than 30 locations. The company  is now able to monitor and deliver insights from more than 400,000 matches annually across 60 sports categories, thanks to its industry’s most proficient software which has set a new standard for speed and accuracy.

“We are excited to partner with Carsten and look forward to supporting his innovative vision for Sportradar by further investing into artificial intelligence and global expansion,” said said Ryan Selwood, Managing Director, Head of Direct Private Equity, CPPIB.

(Press release/ran)

Picture fotoloa.com / yuriyostin

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