Sportradar has entered into a definitive agreement to acquire the sports technology company Synergy Sports.
The sports data provider Sportradar has entered into a definitive agreement to acquire US-facing sports technology solutions company Synergy Sports.
Sportradar to acquire Synergy Sports
Sportradar’s acquisition of Synergy is expected to close in the second quarter of the year and is subject to customary closing conditions and regulatory approvals.
According to the announcement, Sportradar said that the acquisition will help to expand its suite of products while broadening relationships with sports bodies across the globe.
Sportradar specifically mentioned Synergy’s agreement with the International Basketball Federation (FIBA) and the FIBA Connected Stadium programme. This provides teams, leagues and federations with a technology platform offering automated video production and graphics.
Sportradar also said it will build upon the Synergy Automated Camera System by layering its own video and OTT product suite. The data provider said this will pave the way for deeper technology-focused relationships with sports groups.
Carsten Koerl, Sportradar Group CEO, said: “Sportradar is the leading data and technology provider to betting operators as well as media companies and sports leagues globally. Adding Synergy Sports to the Sportradar family will expand our product offering into US college sports data and video analytics and further cements our relationships with the major sports organizations in the US and around the world.
“We have huge respect for the talented, energetic and passionate management team that Nick Maywald and Mark Silver have built at Synergy Sports. Like Sportradar, their focus is always sport and the customer, and we are looking forward to working with them to expand the business and unlock exciting new commercial opportunities for our sports partners.”
Nick Maywald, Executive Chairman of Synergy Sports, said: “Sportradar is the perfect partner to accelerate the evolution of Synergy Sports in the US and around the world. Our team is extremely excited to become part of the Sportradar story, the global leader in understanding and leveraging the power of sports data and content.
“Their extensive knowledge in providing mission-critical content to all types of sports-related customer groups complements our technology-based league relationships centered around our video technology and analytics products. Data is in the DNA of both companies and this partnership will deepen our relationships with both Professional and College sports in the US and internationally.”
Who is Synergy?
Synergy Sports is a basketball data and video analytics company that has a focus on the US market.
The company’s analysts use a proprietary system to take and catalogue stats like possession, which can then be used for coaching and player development.
The company currently has contracts with NBA, WNBA and NCAA while also providing data to media and marketing companies like Turner Sports and ESPN.