Technology Crossover Ventures to Invest in Sportradar
07.10.18
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The Firm recently represented Technology Crossover Ventures (“TCV”) in its strategic partnership with Sportradar, the global leader in analyzing and leveraging the power of sports data. TCV, along with Canada Pension Plan Investment Board (“CPPIB”), will acquire a stake in Sportradar from EQT Partners and certain minority shareholders in a transaction valued at approximately €2.1 billion (approximately US$2.4 billion). Carsten Koerl, founder and CEO, will retain his entire ownership position and EQT will reinvest a portion of its sale proceeds into Sportradar. Additional existing shareholders include Revolution Growth, Ted Leonsis, Michael Jordan and Mark Cuban. The transaction is expected to close in the fourth quarter of 2018 and is subject to customary closing conditions.
TCV is a private equity and venture capital firm that partners with CEOs and founders of public and private growth-stage technology companies as they strive to achieve market leadership.
The Simpson Thacher team included Derek Baird, Robert Langdon, Pieter Lavens, Robert Guo and Mark Myott (M&A); and Ellen Frye (Antitrust).