CPPIN and TCV acquired a 39% stake in Sportradar from EQT for $940m.

Private equity firm EQT Partners sold its minority stake in Sportradar, the global leader in the provision of sports data. The deal values the company, which is partly owned by the National Football League, at $2.4 billion EV. The transaction including the financing was closed and completed, respectively, in early October 2018. Founder, majority shareholder and CEO Carsten Koerl retained his entire ownership position in Sportradar. EQT reinvested a portion of its sale proceeds into Sportradar. “The sports data market, particularly real-time data, is a compelling long-term investment opportunity, with strong growth driven by rising fan engagement, opening of new markets and increasing spend on digital sports content globally,” said Ryan Selwood, Managing Director, Head of Direct Private Equity, CPPIB. “We are excited to partner with Carsten and look forward to supporting his innovative vision for Sportradar by further investing into artificial intelligence and global expansion.”