Sportradar has announced the sale of its coaching and scouting division, Atrium Sports, a part of Synergy Sports, to Teamworks Innovations for $170 million in cash. Despite this sale, Sportradar will maintain its technological assets and resources that underpin its primary gaming, betting, and media operations. These assets include various automatic videography cameras, automated graphic solutions, specific computer vision technologies, and competition management solutions, as well as the associated revenue that has already been integrated into Sportradar’s activities.
This all-cash deal suggests a double-digit EBITDA multiple, enhancing Sportradar’s overall valuation. CEO Carsten Koerl highlighted the strategic nature of this transaction, stating, "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 expected to close in the fourth quarter of 2026 but remains subject to routine closing conditions. Sportradar initially acquired Synergy Sports in March 2021 as part of its efforts to bolster its presence in the U.S. market. Following the announcement, shares of Sportradar Group AG dropped 1.89% to $11.95 in New York on Wednesday.
