EQT Expansion Capital signs Sportradar investment deal
Private equity group EQT Expansion Capital II has signed a deal to invest around €44m in Swiss sportsbook services provider Sportradar AG. Under terms of the deal, EQT Expansion Capital’s Werner Klatten will join Sportradar's board of directors as Chairman, with majority shareholder Carsten Koerl remaining as Chief Executive Officer alongside the current management team.
“We are delighted about the partnership with EQT Expansion Capital,” said Koerl. “It is the right moment for this strategic cooperation as there are huge opportunities for Sportradar in the marketplace. Combining with EQT Expansion Capital, with its great experience of backing successful companies, and EQT’s network of industry contacts means we are confident of continuing Sportradar's success story in the future.
“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.”
Klatten added: “Over the last few years, sportsbetting 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 sportsbetting market.”