Sportradar Announces Close of Acquisition of IMG ARENA and Its Strategic Portfolio of Global Sports Betting Rights
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Acquisition to Accelerate Revenue, Adjusted EBITDA, and Free Cash Flow Growth and will be Accretive to Adjusted EBITDA Margins and Free Cash Flow Conversion
Sportradar Group AG today announced it has completed its acquisition of IMG ARENA and its global sports betting rights portfolio from Endeavor Group Holdings, Inc. and OB Global Holdings, LLC. The closing marks a milestone in Sportradar’s growth strategy, further strengthening and differentiating its position as a leading technology and content provider in the most bet upon global sports, including soccer, tennis and basketball.
The acquired portfolio encompasses strategic relationships with more than 70 rightsholders, delivering approximately 38,000 official data events and 29,000 streaming events across 14 global sports on six continents. With this, Sportradar sports coverage totals more than 1 million matches annually.
The acquisition enhances the Company’s content distribution and will further fuel product development. Sportradar expects to seamlessly integrate and monetize these rights across its highly scalable technology platform and client network.
Given the unique transaction structure, the acquisition is expected to be accretive to Sportradar’s adjusted EBITDA margins and free cash flow conversion while accelerating the Company’s robust revenue, adjusted EBITDA, and free cash flow growth. Sportradar is not required to provide any financial consideration as part of the acquisition. Instead, the deal includes total financial consideration to Sportradar of $225 million comprised of approximately $122 million in cash prepayments by the seller to certain sports rightsholders and approximately $103 million to Sportradar. The payments to Sportradar, which are subject to customary purchase price adjustments, will be made over a two-year period.
Carsten Koerl, Chief Executive Officer of Sportradar, stated: “We are pleased to complete the acquisition of IMG ARENA. This marks a significant milestone for Sportradar expanding our access to premium sports content that strengthens and complements our already robust global portfolio and capabilities. With this, we are uniquely positioned to deliver even more immersive, data rich experiences to our clients, partners and fans around the world while accelerating innovation at scale across the global sports ecosystem.”
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