Enable further organic and acquisitive development
Private equity group EQT Expansion Capital II (EQT) will inject Euro 44 million in live sports data supplier Sportradar AG.
Under the terms of the transaction, EQT Expansion Capital will become a minority investor and provide growth capital to finance Sportradar’s further organic and acquisitive development.
Sportradar has an enterprise value, before EQT Expansion Capital’s investment, of Euro 127.5 million.
The Company’s founder and chief executive officer Carsten Koerl, as well as Sportradar’s management will remain shareholders in Sportradar and will continue to lead Sportradar’s further development and growth post transaction.
Alongside its financial investment, EQT Expansion Capital will provide expertise from EQT’s global network to support and accelerate Sportradar’s further expansion.
“With our new investor, our financial firepower has improved significantly. The transaction supports our aggressive future growth strategy and will provide access to exciting new business opportunities”, said Carsten Koerl, chief executive officer of Sportradar.
Werner Klatten, Sportradar’s new Chairman added: “Over the last few years, sports betting has gained an increasing importance within the sports industry. With its investment in Sportradar, EQT Expansion Capital supports a highly innovative provider of live sports data that will strongly profit from the continuous growth of the sports betting market”.