Sportradar Acquires Sports Data Company Synergy Sports

Sportradar has announced another acquisition in the United States, further strengthening its sports betting offerings in the US and strengthening the company as it speeds towards an IPO offering.

This week, sports data and video analytics company Synergy Sports was acquired by SportRadar, extending the company’s ability to provide betting services to customers in America.

The acquisition is set to close in the second quarter, subject to conditions and regulatory approval. With the deal, Sportradar will grow its 360-degree product suite, with more support towards the company’s goal to strengthen relationships with sports organizations worldwide.

Benefits of the Acquisition

Sportradar is already the official partner of several major sports leagues, including the MLB, NBA, NFL, and NHL. Synergy Sports has relationships with the MLB and NBA as well. The company is also partnered with NCAA Division I men’s and women’s basketball teams and the majority of the NCAA Division I men’s baseball teams.

On an international level, Synergy works with FIBA. The partnership saw the creation of the FIBA Connected Stadium, which offers an end-to-end platform with automated video production and graphics to basketball teams, leagues, and federations around the world.

Sportradar plans to use the international and United States business ties of Synergy Sports to continue to evolve its services, from the creation to digitalization to delivery.

In a press release, the CEO of Sportrader Group, Carsten Koerl, commented on the new deal by stating: “Sportradar is the leading data and technology provider to betting operators as well as media companies and sports leagues globally. 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 organizations in the US and around the world.”

The provider also has plans to build on Synergy Sports’ services to develop deeper technology-based relationships with sports organizations. The company will use the Synergy Automated Camera System and layer it with its product suite of video and OTT to provide greater technology services to sports groups.

Going Public

Sportradar is acquiring Synergy Sports from a firm backed by Todd Boehly, a Los Angeles Dodgers co-owner. Eldridge Industries owns the majority of Synergy, giving the deal connections to Sportradar going public, which the company plans to do soon.

The provider recently announced an agreement to go public via Horizon Acquisition Corp. II, a SPAC led by Boehly. A letter of intent has been signed by everyone involved, with the data company valued at $10 billion. The deal includes other investors who are part of private investment in public equity. These individuals will buy down existing equity holders of Sportradar.

If the deal can close, it would be the largest for a sports-related property ever to occur. Current CEO Carsten Koerl would remain in his position if the company is taken public.

Fresh Eight Acquisition

The Synergy Sports’ acquisition comes just a few weeks after Sportradar acquired Fresh Eight Ltd, a personalized messaging platform provider. Sportradar plans to use Fresh Eight to strengthen its digital marketing services platform.

DCO personalization technology will be used in display and paid social, which will allow operators of sportsbooks to optimize media investments. Publishers can also use the tech to control content integration within platforms.

As SportRadar noted, Fresh Eight complements the company’s ad:s platform. The platform already provides targeted advertising services to betting and gaming businesses. Sportradar will provide enhanced display channel capabilities via its ad:s platform and offer customers data-driven personalization within its paid social channel with the combined offering.