Sportradar sells Synergy business for $170 million
Sports betting technology supplier Sportradar has agreed to sell its Synergy Sports coaching and scouting business for US$170 million as it concentrates investment on betting, gaming and media technology.
The company announced on October 7 that it had entered into a definitive agreement to sell Atrium Sports, the coaching and scouting operation within Synergy Sports, to Teamworks Innovations.
The transaction will be completed entirely in cash and is expected to close during the fourth quarter of 2026, subject to customary conditions, with Sportradar saying the disposal would simplify its operations and allow the company to concentrate on its core commercial markets.
Importantly, the transaction does not involve selling all the technology associated with Synergy Sports.
Sportradar will retain several technology assets and capabilities already integrated into its wider business, including automated video production cameras, computer vision technology, automated graphics and competition management products.
Sportradar provides data, odds, streaming, trading and technology services to sportsbooks and other businesses across international sports markets.
Its activities also include integrity monitoring, media services and technology supporting prediction markets.
The decision to sell the coaching and scouting business, which has found a niche within within basketball and baseball, reflects a distinction between technology developed primarily for professional sports teams and services sold to betting operators, broadcasters and gaming businesses.
Sportradar CEO Carsten Koerl said the sale would help the company concentrate resources on those core activities.
“This transaction optimizes and streamlines our business as we focus on our core betting, gaming, and media priorities, while enabling us to retain key technology assets and capabilities that will support growth and innovation,” Koerl said.
He added that the proceeds would strengthen the company’s balance sheet and support its capital allocation priorities.
