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- Acquisition expected to close in Q2 2021
- Synergy Sports has partnerships with the NCAA, as well as the NBA and MLB
- Sportradar valued at US$10bn and set to go public, according to Sportico
Sports data and broadcast solutions company Sportradar has entered into a definitive agreement to acquire Synergy Sports.
The deal for Synergy Sports, which specialises in data and video analytics in the US college and professional sports space, is expected to close in the second quarter of 2021, subject to customary conditions and regulatory approvals.
The acquisition extends Sportradar’s production suite, as well as supporting the company’s goal to ‘deepen and broaden’ its relationships with sports organisations globally.
Sportradar is an official partner of the National Basketball Association (NBA), the National Football League (NFL), the National Hockey League (NHL) and Major League Baseball (MLB). In total, it has in excess of 1,000 partners in more than 80 countries.
Synergy Sports, meanwhile, has league-wide relationships with the NBA and MLB, as well as all of National Collegiate Athletic Association (NCAA) Division I men’s and women’s basketball and over 90 per cent of NCAA Division I baseball.
The firm, which was created in 2020 by merging Atrium Sports, Synergy Sports Technology and Keemotion into one entity, also has a partnership with the International Basketball Federation (Fiba) for the ‘FIBA Connected Stadium’. This provides teams, leagues and federations with a full end-to-end technology platform offering automated video production and graphics.
In addition, Sportradar will build on the company’s Synergy Automated Camera System video technology by layering on top its own video and over-the-top (OTT) product suite. The move will aim to enable the development of ‘deeper technology-enabled relationships’ with sports organisations.
“Sportradar is the leading data and technology provider to betting operators as well as media companies and sports leagues globally,” said Sportradar chief executive Carsten Koerl.
“Adding Synergy Sports to the Sportradar family will expand our product offering into US college sports data and video analytics and further cements our relationships with the major sports organisations in the US and around the world.”
Nick Maywald, executive chairman of Synergy Sports, added: “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 centred around our video technology and analytics products.
“Data is in the DNA of both companies and this partnership will deepen our relationships with both Professional and College sports in the US and internationally.”
The acquisition follows a report from Sportico earlier this month that Sportradar is poised to go public after signing a letter of intent to merge with Horizon Acquisition Corp. II, a special purpose acquisition company (SPAC). The proposed deal purportedly values Swiss-based Sportradar at US$10 billion.
