Sportradar has entered an agreement to acquire video and data analytics company Synergy Sports by the end of the second quarter of 2021.
Sportradar To Acquire Synergy Sports This Year
Sports data and entertainment solutions provider Sportradar has announced that it has reached a comprehensive agreement to acquire Synergy Sports. Headquartered in the United States, Synergy Sports is a pioneer in automated sports technology applications and a renowned global leader in the field of data and video analytics for college and professional sports.
The purchase will enhance Sportradar’s full-service product suite, similar to the recent takeover of Fresh Eight. More importantly, the acquisition will help the company expand and strengthen its partnerships with key sports organizations around the world.
The National Basketball Association (NBA), the National Football League (NFL), the National Hockey League (NHL), and Major League Baseball (MLB) all have Sportradar as an official affiliate. These existing partnerships will complement Synergy Sports’ own collaborations. Currently, Synergy Sports holds comprehensive agreements with the NBA and MLB, as well as NCAA Division I women’s and men’s basketball.
Sportradar’s vision for the continued transformation of how sports content is produced, digitized, and distributed would be a seamless match with Synergy’s U.S. and international business.
Sportradar will also expand on the success of Synergy Sports’ video technology. Through the acquisition, Sportradar can layer its video and OTT software suite on top of the Synergy Automated Camera System. Doing so would allow for the creation of deeper technology-enabled partnerships with sports organizations.
Subject to customary conditions and regulatory approvals, the transaction is likely to be finalized before the third quarter of 2021.
Sportradar And Synergy Excited For Growth and Opportunities
Sportradar Group CEO Carsten Koerl praised the acquisition as a significant step forward for the data intelligence business. According to Koerl, Synergy Sports’ addition to the Sportradar family would extend the company’s product line into US college sports data and video analytics. He also stated that the agreement will strengthen Sportradar’s relations with major sports organizations in the United States and around the world.
Continuing, Koerl claimed that Sportradar has a great deal of respect for the young, enthusiastic, and passionate management team at Synergy Sports. He praised the team’s professionalism and loyalty to the customer and confirmed that Sportradar was looking forward to working with them.
Synergy Sports’ Executive Chairman, Nick Maywald, also expressed trust in the deal. He lauded Sportradar as the ideal partner to help Synergy Sports develop in the United States and around the world. The Synergy Sports team, according to Maywald, was ecstatic to be a part of the Sportradar tale.
Maywald went on to praise Sportradar for its expertise in delivering mission-critical content to a variety of sports-related customer groups. Synergy’s technology-based league partnerships, he said, would profit from this.
“Data is in the DNA of both companies and this partnership will deepen our relationships with both Professional and College sports in the U.S. and internationally.”Nick Maywald, Executive Chairman of Synergy Sports