Sportradar Group AG announced Wednesday that it struck a deal to sell Atrium Sports for $170M in cash, a transaction the company said represents an accretive double-digit EBITDA multiple relative to Sportradar's market valuation. The sale of the sports technology business is expected to close in Q4, subject to satisfaction of customary closing conditions. CEO Carsten Koerl said the transaction optimizes and streamlines the business as the company focuses on its core betting, gaming, and media priorities, while enabling it to retain key technology assets and capabilities that will support growth and innovation, and that the proceeds will further strengthen the balance sheet and support capital allocation priorities. Sportradar acquired Atrium Sports in 2021. Going forward, Sportradar will retain certain technology assets, capabilities, and revenue that underpin its core offerings and are already integrated into its business, including automated video production cameras, automated graphics solutions, certain computer vision capabilities, and competition management products.
Sportradar Group AGSportradar is selling Atrium Sports for $170M cash at an accretive double-digit EBITDA multiple, strengthening its balance sheet and capital allocation.
Atrium Sports is the business being sold by Sportradar for $170M; no independent impact on Atrium itself is described.
