Sportradar sells Atrium Sports for $170 million

Sportradar has agreed to sell Synergy Sports’ coaching and scouting business Atrium Sports to Teamworks Innovations for $170 million in cash. Sportradar will retain the tech assets and resources supporting its core gaming, betting and media business. These consist of various automatic videography cameras, automated graphic solutions, certain computer vision tech and competition management solutions, along with the relevant revenue already integrated into Sportradar’s operations. The all-cash transaction implies an accretive double digit EBITDA multiple versus Sportradar’s valuations. Sportradar CEO Carsten Koerl said: This transaction optimizes 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 deal is likely to be completed in Q4 2026, subject to the usual closing requirements. Sportradar took over Synergy Sports in March 2021 in its drive to strengthen its business in USA. On Wednesday shares in Sportradar Group AG traded 1.89% lower at $11.95 in New York.