Sports integrity and data company, Sportradar, is going public through Horizon Acquisition Corp. II, a source has revealed for Sportico. The two companies reportedly have already entered into private negotiations.
A Deal Valued at $10 Billion
Sportradar, the Swedish gambling data and integrity company, announced recently that it is in talks to go public through Todd Boehly’s Horizon Acquisition Corp. II. Before that, the company announced that it plans to go public last year. Under initial predictions, a potential deal for Sportradar was valued between $10-$12 billion.
Now, according to an anonymous person, who spoke to Sportico recently, the deal is valued at $10 billion. Reportedly, the two companies have entered private negotiations by signing a letter of intent. With that in mind, official statements for each of the involved parties are yet to be revealed.
Horizon’s latest move is not unexpected, considering that last year in October, the company raised some $525 million. Consequently, the firm revealed that it would be looking for a business within media and entertainment.
Sportradar’s Continuous Growth over Two Decades
Since its foundation back in 2001, Sportradar has not stopped growing. The company enjoyed multiple investors such as the Canada Pension Plan Investment and Revolution Growth. Furthermore, the NBA-icon, Michael Jordan has also invested in Sportradar as well as Mark Cuban. To date, Sportradar is safeguarding the data and integrity of multiple minor and major leagues worldwide. Furthermore, Sportradar provides valuable data for more than 1,000 companies globally.
Besides operating with companies around the world, Sportradar also has partnerships with significant sports entities such as NBA, MLB, NHL, Tennis Federation, and many more sports organizations.
Last month, Sportradar inked a key agreement with the Australian semi-elite basketball league NBL1. Under the deal, the company agreed to cover all NBL1 conferences throughout the year as well as the State Championship.