Sportradar Announces Canada Pension Plan Investment Board and TCV as New Strategic Partners
Sportradar, the global leader in analysing and leveraging the power of sports data, today announced two new strategic partners: Canada Pension Plan Investment Board (CPPIB) and Silicon Valley-based growth equity firm TCV.
CPPIB, through its wholly owned subsidiary, CPP Investment Board Europe S.à r.l., and TCV will together acquire a stake in Sportradar at an enterprise value of EUR 2.1Bn (~USD 2.4Bn) from private equity firm EQT and certain minority shareholders. Carsten Koerl, Founder and CEO, will retain his entire ownership position in Sportradar and will continue to drive its future development and growth. EQT will also 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,” said Carsten Koerl, CEO of Sportradar. “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 is the nexus between sports and entertainment, serving leagues, news media, consumer platforms and sports betting operators with deep insights and a suite of strategic solutions to help grow their businesses. Sportradar is the trusted partner of more than 1,000 companies in over 80 countries and serves as the official partner of the NBA, NFL, NHL and NASCAR as well as FIFA and UEFA. It is also the only provider entrusted to work with the US sports leagues in an official capacity to distribute sports data (NBA and NHL) and AV content (MLB) around the world for betting purposes. With deep industry relationships, Sportradar is not just redefining the experience of being a sports fan; it also safeguards fairness in the sports themselves through its Integrity Services team. By monitoring abnormal betting patterns or social signals around matches, Sportradar’s Integrity Services division has escalated insights to authorities that have resulted in hundreds of sporting sanctions globally.
“The sports data market, particularly real-time data, is a compelling long-term investment opportunity, with strong growth driven by rising fan engagement, opening of new markets and increasing spend on digital sports content globally,” said Ryan Selwood, Managing Director, Head of Direct Private Equity, CPPIB. “We are excited to partner with Carsten and look forward to supporting his innovative vision for Sportradar by further investing into artificial intelligence and global expansion.”
“Sportradar is a world-class sports data business that has maintained an impressive track record of delivering best-in-class technology solutions with a customer-centric approach,” said John Doran, General Partner at TCV. “We look forward to working with Carsten and the team to take advantage of the developing U.S. market and drive the evolution of how sports content will be consumed in the future.”
“Through this investment, CPPIB is able to participate in a compelling global technology growth story alongside our new partners, including Carsten and TCV,” said Alain Carrier, Senior Managing Director and Head of International, CPPIB. “We are thrilled to have the opportunity to work with Sportradar’s management team as they drive the company forward across new customer segments and geographies.”
“We love backing great CEOs with a big vision, and Sportradar fits that profile perfectly,” said Jay Hoag, founding General Partner at TCV. “We are excited about working with Carsten, CPPIB, and existing shareholders to accelerate product innovation and drive continued growth.”
“Revolution invested in Sportradar because we know how powerful real-time data and analytics have become to the live sports business. Sportradar’s vision for how the world will use this data has made them the most influential sports data and information company in the world and they are well-positioned for expansion in the U.S. market given the recent decision by the Supreme Court to legalize sports betting,” said Ted Leonsis, Revolution Growth Cofounder and Partner.
EQT initially invested in Sportradar through its fund EQT Expansion Capital II in 2012, and subsequently invested through its fund EQT VI in 2014. During its partnership with EQT, Sportradar has seen positive organic and acquisition-based growth at approximately 40% revenue growth annually, and has grown its presence in Europe, the United States and Asia via the addition of 1,400 employees and a number of key strategic hires. The company now monitors and delivers insights from more than 400,000 matches annually across 60 sports categories, having developed the industry’s most proficient software while setting new standards for speed and accuracy.
“Sportradar has undergone an extraordinary transformation and is today a true global market leader in the sports data and digital content solutions space. The management team – led by Carsten – has done a fantastic job in driving the business towards the strategic vision that formed the basis for the partnership between Carsten and EQT,” said Dominik Stein, Partner at EQT. “We are convinced that CPPIB and TCV will be great partners to drive the strategic agenda for the future and EQT is excited to maintain a minority stake in the company.”
Closing of the transaction is expected in Q4 2018, subject to the receipt of all necessary regulatory approvals and consents.
Sportradar is the leading global provider of sports data intelligence. The nexus between sports and entertainment, the company serves leagues, news media, consumer platforms and sports betting operators with deep insights and a suite of strategic solutions to help grow their businesses. Sportradar is the trusted partner of more than 1,000 companies in over 80 countries and serves as the official partner of the NBA, NFL, NHL and NASCAR as well as FIFA and UEFA. It is also the only provider entrusted to work with the US sports leagues in an official capacity to distribute sports data (NBA and NHL) and AV rights (MLB) around the world for betting purposes. The company monitors and delivers insights from more than 400,000 matches annually across 60 sports categories, having developed the industry’s most proficient software while setting new standards for speed and accuracy. With deep industry relationships, Sportradar is not just redefining the sports fan experience; it also safeguards the sports themselves through its Integrity Services division and advocacy for an integrity-driven ecosystem that is fair to partners, players and fans. For more information, visit www.sportradar.com.
About Canada Pension Plan Investment Board
Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 20 million contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, São Paulo and Sydney, CPPIB is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At March 31, 2018, the CPP Fund totalled C$356.1 billion. For more information about CPPIB, please visit www.cppib.com or follow us on LinkedIn or Twitter.
Founded in 1995, TCV provides capital to growth-stage private and public companies in the technology industry. Since inception, TCV has invested over $10 billion in leading technology companies and has helped guide CEOs through more than 115 IPOs and strategic acquisitions. TCV has invested over $1 billion in Europe. Investments include Airbnb, Altiris, AxiomSL, Believe Digital, Dollar Shave Club, EtQ, ExactTarget, Expedia, Facebook, Fandango, GoDaddy, HomeAway, LinkedIn, Netflix, Rent the Runway, Sitecore, Splunk, Spotify, TourRadar, Varsity Tutors, and Zillow. TCV is headquartered in Menlo Park, California, with offices in New York and London. For more information about TCV, including a complete list of TCV investments, visit www.tcv.com.
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. More info: www.eqtpartners.com
DKC for Sportradar
Max Puro, +1-212-981-5129
CNC for Sportradar
(Rest of World Inquiries)
Matthew Thomlinson, +44-203-7551-624
Steve McCool, +44-20-3947-3002
Darryl Konynenbelt, +1-416-972-8389
Katja Gagen, +1-415-690-6689
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
Iberdrola Recognized as United Nations Global Compact LEAD25.9.2018 00:12 | Tiedote
Today, Iberdrola, one of the world’s largest utilities and the leading renewable energy producer, is pleased to announce that the Company has been recognized as Global Compact LEAD for demonstrating its ongoing commitment to the United Nations Global Compact and its Ten Principles for responsible business. Announced at UN Headquarters in New York during the UN Global Compact Leaders Summit 2018, Iberdrola was identified as being among the highest-engaged participants of the world’s largest corporate sustainability initiative. Lise Kingo, CEO and Executive Director of the UN Global Compact, said, “LEAD companies represent the highest level of engagement with the UN Global Compact. Achieving the Sustainable Development Goals and creating the world we want will not happen without bold action from the responsible business community. We need companies of all sizes — like the ones recognized today — to improve their performance, no matter where they are on their sustainability journey.” “Sin
Pre-Registration for MapleStory 2 Starts Today24.9.2018 20:00 | Tiedote
Pre-registration for MapleStory 2, the newest MMORPG adventure in Maple World, is available starting today. From September 24 through October 8, players can sign-up on the MapleStory 2 Pre-Registration site available here and earn exclusive rewards! Pre-registration web rewards will include unique in-game items such as the Roosting Seagull, Rustic Mushcabin Name Tag, and the Dusty Rickshaw. From September 24 through October 8, players can also receive a Mint Body Pillow by retweeting the new Runeblade trailer on Twitter and/or liking on Facebook. In addition to pre-registration, players who purchased a Founder’s Pack can jump into Head Start starting October 1, which will allow them to join MapleStory 2 's vibrant and immersive world ahead of global launch on October 10. Along with beta improvements, Head Start (October 1 - October 10) will include: Character progression that carries over to the official launch 6 character slots Founder’s Pack items Access to Gemstones Lv. 1 - 50 Quest
First Engineering Faculty in Canada Named after a Woman: Business Leader Gina Cody Makes Historic $15 Million Donation to Montreal’s Concordia University24.9.2018 18:15 | Tiedote
Three decades after becoming the first woman to earn a PhD in building engineering from Concordia University, Gina Parvaneh Cody, MEng 81, PhD 89, has made history by giving $15 million to her alma mater. In recognition of her transformative gift to the “Campaign for Concordia: Next-Gen. Now”, the university has named its faculty of engineering and computer science after the alumna. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180924005425/en/ (Photo: Business Wire) The Gina Cody School of Engineering and Computer Science is the first engineering faculty in Canada — and one of the first internationally — to be named after a woman. Gina Cody, a top business leader and building engineer, credits much of her success to Concordia because the university provided her with an entrance scholarship. “I arrived in Canada as a young student from Iran in 1979 with $2,000,” she says. “Concordia welcomed me and provided me with support
Dole’s Standard Fruit Celebrates 20-Year Milestone as Environmental Leader24.9.2018 18:00 | Tiedote
Earlier in September Dole Food Company participated in a celebration of the twentieth anniversary of the company’s initial receipt of its ISO 14001 Certification. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180924005079/en/ Dole Fresh Fruit President Renato Acuña speaks at the anniversary celebration of Dole's landmark environmental sustainability certification. (Photo: Business Wire) On July 2, 1998, Standard Fruit Company of Costa Rica S.A., a subsidiary of Dole Food Company, Inc., became the first agricultural and banana company in the world to receive the globally recognized ISO 14001 Certification for its environmental management policy and the establishment of its Integrated Management System. With the certification, the company further strengthened its robust Environmental Management System, with results that place it at the forefront in the sustainable production of bananas and pineapples. The celebration event, h
Helsinki Joins New York in Commitment to Review Local Progress Toward Global Sustainable Development Goals24.9.2018 17:42 | Tiedote
In July 2018, the City of New York became the first city in the world to submit to the United Nations its progress toward the Sustainable Development Goals (SDG’s) on city level. As the first European city Helsinki will follow New York City and become the second city in the world in effort to showcase crucial role of cities in achieving UN agenda for people, prosperity and planet. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180924005633/en/ As the first European city Helsinki will follow New York City and become the second city in the world in effort to showcase crucial role of cities in achieving UN agenda for people, prosperity and planet. Photo: Jussi Hellsten The Mayor of Helsinki Jan Vapaavuori announced Helsinki’s commitment to the voluntary local review at a panel conversation with New York City’s Commissioner of International Affairs Penny Abeywardena at the Social Good Summit in New York City on Sunday. Even thou
ARTMS’ QUANTM Irradiation System™ to Be Featured at Two International Conferences in September24.9.2018 16:00 | Tiedote
ARTMS Products, Inc. announced today that it has been invited to present at the National Nuclear Security Administration’s 2018 Mo-99 Topical Meeting on Tuesday, September 25th and the Third International Symposium on Technetium and other Radiometals in Chemistry and Medicine on Thursday, September 27th. Joel Kumlin will present at the 2018 Mo-99 Topical Meeting in Knoxville, TN, during Session 7, Production Projects and Technologies II, at 13:00EDT on September 25th. Mr. Kumlin will be discussing progress on implementation of the ARTMS QUANTM Irradiation System™ for producing technetium-99m. The QIS™ combines local production control and a cost-effective, easy-to-use solid target system for the production of Tc-99m on most cyclotron systems. ARTMS recently announced that the QIS™ received CE mark approval and has been installed in a number of countries throughout the world. ARTMS also announced that Dr. Paul Schaffer, CTO, has been invited to present at the Third International Symposi
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme