Sportradar Acquiring Data Analytics Firm Synergy Sports
Sportradar, the Swiss gambling data company that is reportedly going public in a SPAC deal, has entered into an agreement to acquire Synergy Sports, a data and video analytics firm that serves teams, leagues and federations around the world.
The deal is expected to close in the second quarter of this year, pending regulatory approvals, according to a news release. Los Angeles Dodgers co-owner Todd Boehly, whose SPAC is buying Sportradar, reportedly owns a large stake in Synergy Sports.
This is Sportradar’s second significant acquisition in just over two weeks, having bought Fresh Eight, which operates a personalized messaging platform for sports betting and casinos, earlier this month.
“Adding Synergy Sports to the Sportradar family will expand our product offering into U.S. college sports data and video analytics and further cements our relationships with the major sports organizations in the U.S. and around the world,” Carsten Koerl, Sportradar Group CEO, said in the release.
Sportradar is an official partner of the NBA, NFL, NHL and MLB, while Synergy Sports has league-wide relationships with the NBA and MLB, as well as all of NCAA Division I women’s and men’s basketball and more than 90% of NCAA Division I men’s baseball, according to the release.
“Sportradar is the perfect partner to accelerate the evolution of Synergy Sports in the U.S. and around the world,” Nick Maywald, executive chairman of Synergy Sports, said in the release. “Our team is extremely excited to become part of the Sportradar story, the global leader in understanding and leveraging the power of sports data and content.
“Their extensive knowledge in providing mission-critical content to all types of sports-related customer groups complements our technology-based league relationships centered around our video technology and analytics products,” Maywald said. “Data is in the DNA of both companies and this partnership will deepen our relationships with both professional and college sports in the U.S. and internationally.”
Synergy Sports employs more than 400 people in 35 countries, the release said.
SPAC Deal for Sportradar
Earlier this month, according to published reports, Sportradar reached a deal with Horizon Acquisition Corp. II — a special purpose acquisition or blank check company — that would allow it become publicly traded. The SPAC is led by the Dodgers’ Boehly.
The deal reportedly is for $10 billion. A SPAC has no goods or services of its own but is armed with cash and is listed as a publicly traded company. SPACs seek out private companies with the goal of taking them public.
SPACs have become more common over the last year, especially in online gaming, gambling, hospitality and digital entertainment. Gaming companies such as DraftKings, Rush Street Interactive, Genius Sports Group and Golden Nugget Online all went public in SPAC agreements.
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