Sports and betting-related data company Sportradar has secured additional investment from private equity group EQT VI.
EQT VI has agreed to purchase shares from Sportradar founder and chief executive officer Carsten Koerl as well as various management shareholders and another EQT fund, EQT Expansion Capital II.
Sportradar said that the investment would help to support its current growth path through value-enhancing acquisitions, in addition to investments in the development of new products and solutions, geographic expansion and new customer segments.
EQT VI said that it was attracted to Sportradar due to its “strong market position, its leading technology and solutions as well as a lasting growth track record”.
Koerl and Sportradar’s management will remain significant major shareholders alongside EQT VI and will continue to drive the company’s development and growth.
“With our new partner, we are able to leverage EQT VI’s global network of industrial advisors and its expertise in supporting growth strategies,” Koerl said.
“We will also have increased financial flexibility, and, together with EQT VI, we will continue developing Sportradar into the number one global sports data and information company with deep coverage across value chain, geographies and customer segments.”
Dominik Stein, a partner at EQT Partners, investment adviser to EQT VI, added: “We are impressed by Sportradar’s achievements so far, and see vast potential to create value by further building on the company’s capabilities and position.
“With EQT VI as an investor and partner, Sportradar will continue to further expand internationally, serve its customers with a more comprehensive product and solution set, address attractive new customer segments and also strengthen its market position through acquisitions.”
source : www.igamingbusiness.com