Synergy Sports, a company that provides sports data and video analytics, are selling down now. Another company, Sportradar, is buying the company. The selling amount not disclosed yet.
In the US, NBA, NFL, NHL, and MLB have official partnerships with Sportradar; on the other hand, the NBA and MLB have a league-wide relationship with Synergy sports and with NCAA Division.
The most wagered sports events in the US, which are also called March Madness, is I men’s basketball tournament at the NCAA Division.
Sportradar Acquiring Synergy
As Sportradar is buying Synergy, it will get access to an agreement with the International Basketball Federation (FIBA). According to the current terms with the league and Synergy, the company provided an end-to-end technology platform and video production and graphics.
Sportradar/Synergy Transaction’s Interesting Element
In the gaming industry, the acquisition of Synergy by Sportradar is considered as another bolt-on transaction and adding more value to the brisk pace of deal-making on the surface. There is something more to add to the story of this transaction.
Todd Boehly’s Eldridge Industry owned most of the Synergy. Horizon acquisition Corp also founded by Boehly. The motto of SPAC is to make accessible the way to made Sportradar a public traded entity.
Elysian Park Venture, another Synergy backer group, comprises the owner of Los Angeles Dodgers and Boehly. Boehly also holds a significant stake at MLB (Major League Baseball).
Waiting on SPAC Deal to Materialize
Almost one year, the rumor that Sportradar is becoming a publicly-traded company is spreading all over. The firm’s recent step of mulling a blank check deal or IPO (Initial Public Offering) has intensified the speculation more. Boehly’s Horizon Acquisition Corp is again in talks, with chatter surfaced in the early of this month, $10 billion will be provided for the merger. As the speculation started, the deal not confirmed even after three weeks. Thus, prompting the issue of SPAC and Procure Private Investment in Public Equity (PIPE) is not worthy at all.