Private equity firm to buy stake in Sportradar
Sportradar pledges significant growth drive following investment from private equity firm EQT VI
Sports data provider Sportradar is set to embark on an aggressive growth strategy after securing new investment from European private equity firm EQT VI.
The Switzerland-based firm said the deal would enable the firm to increase its presence internationally, invest in new products, attract more customers and boost its acquisition strategy.
“With our new partner, we are able to leverage EQT VI’s global network of industrial advisors and its expertise in supporting growth strategies,” Carsten Koerl, founder and CEO of Sportradar, said.
“We will also have increased financial flexibility, and, together with EQT VI, we will continue developing Sportradar into the number one global sports data and information company with deep coverage across value chain, geographies and customer segments,” he added.
The closing of the transaction is due to take place next month and will see EQT VI buy shares from Koerl and senior management who will remain majority shareholders.
“We are impressed by Sportradar’s achievements so far, and see vast potential to create value by further building on the company’s capabilities and position,” Dominik Stein, partner at EQT Partners, said.
News of the deal follows Sportradar’s first push into the US market in December after the firm acquired real-time sports information provider SportsData for an undisclosed fee.