Sportradar is set to receive $170m (£129m) after agreeing to sell its Atrium Sports subsidiary to Teamworks Innovations in an all-cash deal.
Atrium Sports has been sold at an “an accretive double-digit EBITDA multiple relative to Sportradar’s market valuation”, Sportradar said.
Atrium Sports is the coaching and scouting business of Synergy Sports, an entity that Sportradar acquired in March 2021.
The New York-listed firm said the divestment aligned with its focus on its “core betting, gaming and media priorities”.
Sportradar noted it would “retain certain technology assets, capabilities and revenue that underpin its core offerings and is already integrated into its business”.
Sportradar is also expanding into prediction markets, having penned deals with Kalshi and Polymarket. The group has also hired a vice-president for the vertical.
Those assets include “automated video production cameras, automated graphics solutions, certain computer vision capabilities and competition management products”.
At the time of the 2021 deal, Sportradar said the acquisition “complements and extends Sportradar’s 360-degree product suite”.
As per the supplier’s website, the coaching tool allows professional, college and high school team management to study baseball and basketball game footage and data.
The scouting product includes data and video footage of players, which, according to Sportradar, can be used to “make informed decisions and gain a competitive edge”.
Teamworks, which was founded in 2004 and now counts almost 500 employees on its books, is valued at more than $1.5bn.
The group styles itself as the “leading operating system for elite sports” and provides software and analytics to professional and college sports organisations.
Teamworks also notes it is the “preferred technology partner for 100% of NFL, NHL and Premier League teams”.
The firm also has partnerships in place with the majority of MLB, NBA and MLS franchises, as well as more than 65 Olympic federations.
The deal is expected to close in Q4 2026, subject to standard closing conditions.
Carsten Koerl, Sportradar CEO, said: “This transaction optimises and streamlines our business as we focus on our core betting, gaming and media priorities, while enabling us to retain key technology assets and capabilities that will support growth and innovation.
“The proceeds will further strengthen our balance sheet and support capital allocation priorities.
“Synergy is a leading team-side analytics platform for baseball and basketball and this transaction positions the business for its next phase under an industry leader focused on serving teams and athletes.
“We will work closely with Teamworks to ensure a seamless transition for our clients, partners and employees.”
The post Sportradar nets $170m after selling Atrium Sports to Teamworks Innovations first appeared on EGR Intel.
New York-listed firm divests coaching and scouting analysis platform in all-cash deal as it sharpens focus on its core product suite
The post Sportradar nets $170m after selling Atrium Sports to Teamworks Innovations first appeared on EGR Intel.