Sportradar attracts US investment

Swiss sports data provider Sportradar has welcomed investment partners Canada Pension Plan Investment Board (CPPIB) and Silicon Valley-based growth equity firm TCV, who together have acquired a minority stake in the firm, believed to be around 35 percent, for a Euro 2.1 Billion consideration from private equity firm EQT and other minority shareholders.

Carsten Koerl, founder and CEO, will retain his entire majority ownership position in Sportradar and will continue to drive its future development and growth.

In addition, EQT will reinvest a portion of its sale proceeds into Sportradar. Additional existing shareholders include Revolution Growth, Ted Leonsis, Michael Jordan and Mark Cuban.

“CPPIB and TCV are both known for extensive global tech experience and a track record for working alongside innovative management teams to help achieve their long-term vision,” Koerl said.

“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.”

Sportradar holds exclusive partnerships with the NFL, NBA, Nascar and the National Hockey League along with FIFA and UEFA.

“We love backing great CEOs with a big vision, and Sportradar fits that profile perfectly,” Jay Hoag, founding General Partner at TCV, said. “We are excited about working with Carsten, CPPIB, and existing shareholders to accelerate product innovation and drive continued growth.”

Closing of the transaction is expected in Q4 2018, subject to regulatory approvals and consents.