Sportradar Sells Atrium Sports for $170M in Cash
Sportradar Group AG announced the sale of its subsidiary, Atrium Sports, to an undisclosed buyer for $170 million in cash. The transaction is described as accretive and represents a double-digit EBITDA multiple relative to Sportradar's market valuation. The move aligns with Sportradar’s strategy to streamline operations by divesting non-core assets. Atrium Sports, which focuses on sports betting technology solutions for operators in the UK and Ireland, will now be managed under new ownership. The deal is expected to enhance shareholder value through improved financial performance metrics.
Tickers: $SRAD
Topics: M&A Sports Technology