9th of July 2012 Author: Johnny Karp
Euro44 million to be invested by EQT Expansion Capital II
According to the latest reports, live sports data supplier Sportradar AG will receive an investment boost of Euro44 million from private equity group EQT Expansion Capital II (EQT), which will thereby become a minority investor and provide growth capital to finance Sportradar's further organic and acquisitive development. Also, apart from its financial investment, EQT Expansion Capital will provide expertise from EQT's global network.
The pre-investment value of Sportradar enterprise amounts to Euro 127.5 million.
Under the terms of the transaction, the Company's founder and chief executive officer Carsten Koerl and Sportradar's management will remain shareholders in Sportradar and will continue to lead Sportradar after the transaction is made.
Carsten Koerl, chief executive officer of Sportradar, said regarding the investment: 'With our new investor, our financial firepower has improved significantly. The transaction supports our aggressive future growth strategy and will provide access to exciting new business opportunities.'
'Over the last few years, sports betting has gained an increasing importance within the sports industry. With its investment in Sportradar, EQT Expansion Capital supports a highly innovative provider of live sports data that will strongly profit from the continuous growth of the sports betting market,' it was added by Werner Klatten, Sportradar's new Chairman.
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