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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.