Sportradar has completed the acquisition of IMG Arena and its global sports betting rights portfolio from Endeavor Group.
The acquisition further strengthens Sportradar’s position as a leading technology and content provider for 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 now totals more than 1 million matches annually.
“We are pleased to complete the acquisition of IMG Arena,” said Sportradar CEO Carsten Koerl. “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.”
The acquisition is expected to be accretive to Sportradar’s adjusted EBITDA margins and free cash flow conversion, while accelerating the company’s revenue.
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 $122 million in cash prepayments by the seller to certain sports rightsholders and $103 million to Sportradar.
The payments to Sportradar, which are subject to customary purchase price adjustments, will be made over a two-year period.
Completion of the transaction follows last month’s approval from the UK Competition and Markets Authority (CMA), which had launched an official inquiry into the deal in early September.
Shares in Sportradar Group AG (NASDAQ:SRAD) were trading at $25.61 per share in early trading in New York Monday.