Official sports-data infrastructure for the global betting ecosystem — exclusive/official data rights with major leagues, and an integrated suite of data, trading, media, and fan-engagement solutions. Brought in the NFL as a strategic investor while becoming the league’s exclusive data purveyor.
Deal facts
| Item | Detail |
| Announced / Closed | Oct 27, 2020 / Apr 20, 2021 |
| Pre-Money Equity Value | $1,002M |
| Post-Money Market Cap | $1,677M |
| PIPE | $330M (anchor: Caledonia) |
| Entry Multiple | 7.4x TEV/2021E revenue vs. 8.3–14.8x peer medians |
Sponser value-add
- M&A experience and strategic support for rights expansion across the sports ecosystem
- Secured the $330M PIPE, providing capital for product investment and M&A plus institutional validation
Outcome
Business proved resilient through COVID with 31% revenue growth despite live-sports disruption; consistently beat management revenue projections and turned cash-flow positive in 2023. Recent acquisition of Legend added a scaled digital sports and gaming media network. Official data rights and league relationships with entities like the Premier League and National Football League remain key long-term differentiators.
