The sports information service Sportradar, based in St. Gallen, is aiming for a listing in the US on the Nasdaq technology list. The company has filed an application with the US Securities and Exchange Commission (SEC), JP Morgan, one of the banks involved in the deal, said in a statement today.
Neither the number of shares nor the range of their price have yet been determined, the note said. The entry on the stock exchange involves a volume of 100 million dollars (approximately 91 million francs), according to the application submitted to the SEC.
The transaction will be led by banks JP Morgan, Morgan Stanley, Citigroup and UBS.
In 2018, the Canadian Pension Plan Investment Board (CPPIB) and investment firm TCV acquired a stake in the company. The transaction valued the company at $ 2.1 billion.
The request for listing does not come as a surprise, given that rumors of a possible entry to the Nasdaq have been circulating since last October. The question arises after failed negotiations to enter the stock exchange through a SPAC (Special Purpose Acquisition Company), i.e. a company that enters the stock exchange with the aim of subsequently making an acquisition not previously known to investors.
Founded in 2001, Sportradar provides data on sporting events to betting companies and the media. It operates in 19 locations around the world and employs approximately 2,300 full-time equivalent employees.
Among its clients are several well-known sports federations including the International Football Federation (FIFA), the Union of European Football Federations (UEFA), the National Basketball Association (NBA, the leading professional basketball league in the United States and the Canada), the National Hockey League (NHL, also from the United States and Canada) and the Major League Baseball (MLB, also from North America). Each year, 750,000 sporting events are covered in 83 countries.
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