Sportradar Agrees $170m Sale Of Atrium Sports

Sportradar has agreed to sell Atrium Sports to Teamworks Innovations in a transaction valued at $170m.

The deal covers Atrium Sports’ team-focused technology operations, including video capture, coaching and scouting solutions.

Sportradar said proceeds from the transaction will support its wider capital allocation priorities as it focuses on its core sports betting, gaming and media operations.

The company’s current strategy includes developing its prediction markets offering and expanding Playradar, its iGaming content business.

Sportradar To Retain Selected Technology

Sportradar will retain a number of Atrium Sports technologies already integrated into its wider operations.

These include automated video production cameras, automated graphics solutions, selected computer vision capabilities and competition management products.

Atrium Sports includes the coaching and scouting operations of Synergy Sports, which Sportradar acquired in March 2021.

Sportradar CEO Carsten Koerl said the sale would allow the business to focus resources on its main growth areas while retaining technology relevant to its operations.

“This transaction optimises and streamlines our business as we focus on our core betting, gaming and media priorities, while enabling us to retain key technology assets and capabilities that will support growth and innovation,” Koerl said.

“The proceeds will further strengthen our balance sheet and support capital allocation priorities. Synergy is a leading team-side analytics platform for baseball and basketball and 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.”