Sportradar has finalized a deal to sell its coaching and scouting division, Atrium Sports, to Teamworks Innovations for $170 million in cash. In this agreement, Sportradar will keep the technological assets that support its primary operations in gaming, betting, and media. These assets include automatic videography cameras, automated graphic solutions, computer vision technology, and competition management solutions, along with the associated revenue already within Sportradar's business structure.
The transaction is expected to yield an accretive double-digit EBITDA multiple relative to Sportradar’s valuations. The company's CEO, Carsten Koerl, commented on the sale, emphasizing that it optimizes their operations by allowing a concentrated focus on core betting, gaming, and media priorities, while retaining important tech assets that facilitate future growth and innovation. Koerl added that the proceeds would enhance Sportradar's balance sheet and support capital allocation efforts, noting that Synergy is a leading analytics platform for baseball and basketball.
He stated, "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 agreement is projected to be finalized in the fourth quarter of 2026, pending the customary closing conditions. Sportradar acquired Synergy Sports in March 2021, aiming to bolster its presence in the United States market. Following the announcement, shares of Sportradar Group AG saw a 1.89% decline, trading at $11.95 in New York.
