Private equity firm Bain to be majority shareholder
Deltatre’s clients include NFL, Fifa and Discovery
Bruin acquired company for around US$160m in 2016
New York-based investment and operating company Bruin Capital has agreed to sell its streaming technology provider Deltatre to Bain Capital and Nextalia SGR.
The transaction is subject to regulatory and other customary approvals. The value of the deal has not been disclosed but SportsPro understands it is at the upper end of the US$700 million to U$900 million range that had previously been reported.
The exact spilt between Boston-based investment firm Bain and Milan-headquartered asset management company Nextalia was also not revealed, but the former will be the majority shareholder.
Deltatre, which was founded in Italy and has a presence in 14 countries, powers digital products for clients including the National Football League (NFL), Major League Baseball (MLB), Major League Soccer (MLS), Fifa, Uefa, the Premier League and Discovery
The company claims that 20 per cent of internet users globally have engaged with a digital product from Deltatre and its over-the-top (OTT) solutions have approximately 25 million end users per day. It is expected to generate US$180 million of revenue in 2022.
Bruin initially acquired Deltatre for around US$160 million in 2016.
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“Rapid technological innovation in how content is produced, distributed, and consumed has opened new opportunities for rights owners to monetise and reach their fans globally, and Deltatre sits at the heart of this shift,” said Andrea Marini, chief executive of Deltatre.
“From the start it has been clear that [Bain Capital and Nextalia SGR] share many of the same core values that are held by the wider Deltatre community and that have contributed to our long-standing reputation as the premier technology provider for many of the world’s most recognisable brands.
“We believe that their guidance and support will accelerate our mission of transforming the way the world engages with content on their favourite platforms.”
Prior to the agreement with Bain and Nextalia, Bruin had been working on strategic options for Deltatre. One of those was a potential sale that would value the company at approximately US$1 billion, though SportsPro understands Bruin was not looking for a hard out at the time. The move was ultimately shelved in 2020 due to uncertainty caused by Covid-19.
Bain and Nextalia’s acquisition of Deltatre comes as streaming technology continues to become an integral component of sports media. Notably, last week saw MLS ink a ten-year global partnership with Apple, enabling the technology giant to show league matches across the world via its Apple TV streaming platform.
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