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Staying in the News: Sportradar Acquires Synergy Sports

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Staying in the News: Sportradar Acquires Synergy Sports
People visit Sportradar booth at the International Sports convention. Photo by VALERY HACHE / AFP

It has been a whirlwind couple of months for Swiss gambling data company, Sportradar. Already an official partner of the NBA, NFL, NHL and MLB, the sports data intelligence and sport entertainment solutions provider has apparently made it their mission to significantly increase their profile within the legal sports betting space.

Their latest move is the acquisition of Synergy Sports, “the market leader in data and video analytics in the U.S. College and Professional sports space.” Sportradar will instantly increase their reach thanks to the relationship that Synergy has forged with the NBA and MLB, as well as all of NCAA Division I women’s and men’s basketball, 90% of NCAA Division I men’s baseball and even some teams and leagues around the world.

“Adding Synergy Sports to the Sportradar family will expand our product offering into U.S. college sports data and video analytics and further cements our relationships with the major sports organizations in the U.S. and around the world,” Carsten Koerl, Sportradar Group CEO, said in the release.

Sportradar’s Recent Moves

Just this month, it was reported that Sportradar, “the leading global provider of sports data intelligence” was entering into a $10 million special purpose acquisition company (SPAC) deal with Horizon Acquisition Corp. II to take the company public on the New York Stock Exchange. It was seen as a way to expand its already impressive depth and raise funds for aggressive expansion plans during this time of immense growth of the legal sports betting scene.

Coincidentally, or perhaps not, Los Angeles Dodgers co-owner Todd Boehly who heads Horizon Acquisition Corp. II, the SPAC buying Sportradar, currently holds a large stake in Synergy Sports.

Sportradar also bought Fresh Eight, a personalized messaging platform for sports betting and casinos in a move to further their reach a couple of weeks ago.

What Synergy Brings to the Table

Synergy Sports provides Sportradar “a full suite of cutting-edge automated technology solutions to serve teams, leagues and federations around the world”. Their proprietary analytics platform includes logging systems used to tag, catalogue and provide analysis for every possession for teams in every game played.

“Sportradar is the perfect partner to accelerate the evolution of Synergy Sports in the U.S. and around the world,” Nick Maywald, executive chairman of Synergy Sports, said in the release. “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.”

“Data is in the DNA of both companies and this partnership will deepen our relationships with both professional and college sports in the U.S. and internationally.”

Synergy’s technology has been used in coaching and player development in the past and recently has been able to carry over their brand to the legal sports betting realm – something that will help Sportradar cement their status as the go-to tool for sportsbooks and bettors alike.

Synergy’s partnership with FIBA on the ground-breaking FIBA Connected Stadium is also an attractive value-add for Sportradar. It gives FIBA-affiliated venues worldwide the opportunity to be equipped with smart technology that automates the capture of live games, enhances the production for fans and provides new or enhanced commercial opportunities.

Sportradar Moving Forward

Sportradar’s recent moves only strengthens their position in the US sports betting space while at the same time expanding their already impressive global presence. It makes the company a valuable one-stop data shop.

Their newfound muscle-flexing will come in handy as it pursues a deal for exclusive rights to NFL live betting data which came to the forefront after the league negotiated an 11-year $113 billion media rights deal earlier this week. The brand-build could give Sportradar a leg up in those negotiations and set them apart from Genius Sports and IMG Arena that are in the running for the estimated $100 million annual exclusive data right for the NFL.

With Synergy under the Sportradar umbrella, there is little doubt about which data provider is dominant in the sports betting space both within the US and on a global scale. Sportradar hopes to leverage that fact into big things for their brand going forward.