Sportradar Group (SRAD) said Wednesday it has entered into a definitive agreement with Endeavor Group (EDR) to acquire IMG Arena and its global sports betting rights portfolio.
Under the terms, IMG Arena will pay $125 million cash to Sportradar and up to $100 million cash prepayments to certain sports rightsholders, for a total of $225 million, Sportradar said, adding it will not be required to pay any amount to the Endeavor Group.
The deal, expected to close in Q4, is anticipated to be accretive to its adjusted EBITDA margins, Sportradar said.
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