CPPIB, TCV-backed Sportradar buys Optima Gaming

Following this acquisition, Sportradar will expand its portfolio of gaming and betting services and products, and offer the entire betting and gaming value chain in both established and emerging markets.

A consortium led by CPPIB and TCV bought a 35% stake in Sportradar from EQT Partners in July 2018 for an enterprise value of €2.1bn. EQT reinvested a portion of the sale proceeds into the company, and CEO Carsten Koerl retained his stake, becoming a controlling shareholder following completion of the transaction. The consortium won out against General Atlantic, Blackstone, KKR and Permira in an auction run by Evercore.

Sportradar employs more than 2,000 developers and sports specialists across 30 locations worldwide, and generates revenues of around €350m and EBITDA of approximately €120m.

Company
Founded in 2012, Seville-based Optima is a developer of software for the gaming and sports betting industry. The company employs 200 people and generates revenues of around €20m.

People
Sportradar – Carsten Koerl (CEO).
Optima Gaming – Jacob Lopez (CEO).

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