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By Karen Roman
Sportradar Group AG (Nasdaq: SRAD) said it will acquire IMG ARENA’s global portfolio of sports betting rights by the fourth quarter, adding depth to its coverage of tennis, basketball and soccer.
The company said the acquisition will accelerate revenue, adjusted EBITDA and free cash flow growth and be immediately accretive to adjusted EBITDA margins.
Sportradar also said full year revenue grew 26% to €1.1bn compared to the year prior and adjusted EBITDA increased 33% to €222 million, both above analysts’ expectations, the company said in a statement.
“Given our proven track record of maximizing ROI through our global betting rights deals and our strengthened position across tennis, basketball and soccer, we are confident in our ability to realize the full economic potential of this portfolio,” said Carsten Koerl, Founder and CEO.
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