Acquisition will streamline Sportradar’s business and sharpen focus on core betting, gaming and media priorities
Sportradar Group has agreed a deal to sell Atrium Sports, the coaching and scouting business of Synergy Sports, to Teamworks Innovations for $170 million in cash.
Sportradar will retain certain technology assets, capabilities and revenue that underpin its core offerings and is already integrated into its business.
This includes automated video production cameras, automated graphics solutions, certain computer vision capabilities, and competition management products.
The all-cash transaction represents an accretive double-digit EBITDA multiple relative to Sportradar’s market valuation.
“This transaction optimizes and streamlines our business as we focus on our core betting, gaming, and media priorities, while enabling us to retain key technology assets and capabilities that will support growth and innovation,” said Sportradar CEO Carsten Koerl. “The proceeds will further strengthen our balance sheet and support capital allocation priorities.
“Synergy is a leading team-side analytics platform for baseball and basketball and this transaction positions the business for its next phase under an industry leader focused on serving teams and athletes. We will work closely with Teamworks to ensure a seamless transition for our clients, partners and employees.”
The acquisition is expected to close in the final quarter of 2026, subject to satisfaction of customary closing conditions.
Sportradar acquired Synergy Sports in March 2021.
Shares in Sportradar Group AG (NASDAQ:SRAD) were trading 1.89 per cent lower at $11.95 per share in New York earlier Wednesday.