Sportradar’s initial public offering will happen as Todd Boehly’s special acquisition company, Horizon Acquisition Corp. II, has been cited by Bloomberg as currently negotiating the deal with the data and integrity company.
Sportradar in Talks with Acquisition Corp. II for IPO
Following a report by Sportico last week, Swedish gambling data and integrity company Sportradar AG is now officially in talks to go public through Todd Boehly’s Horizon Acquisition Corp. II, a special acquisition vessel.
Bloomberg did the reporting revealing Boehly’s name and said that the transaction’s actual value could not be learned at the time. However, according to Sportico, the sum is between $10 billion and $12 billion.
Bloomberg’s attempts to reach out to Horizon Acquisition and Sportradar were ignored, the newspaper said. Sportradar enjoys an array of investors, not least Michael Jordan and Mark Cuban, and the Canada Pension Plan Investment, Revolution Growth, and others.
The company is already in charge of ensuring data and integrity across numerous major and minor leagues worldwide, with over 1,000 companies now fully reliant on Sportradar’s data.
Partnering up with Biggest Names in Sports
Since its inception, Sportradar has been able to strike partnerships with numerous entities, including the NHL, MLB, NBA, Tennis Federation, and numerous other regional sports entities.
With the cancer of match-fixing back, the company has agreed to foot the bill for its Universal Fraud Detection System, releasing it for free to leagues and parties interested in benefiting from an automated solution to fight fraud.
As a reminder, Horizon Acquisition raised $525 million last October and said it would be looking for a business operating in media and entertainment at the time. Sportradar’s valuation outlook is strong, and the company’s active role in sports integrity means interest from a potential IPO should match it.
Sportradar has teamed up with the NBL1 in February, and the company pushed for a social media integrity education service that same month.