India, March 19 -- Sportradar Group AG (SRAD) has entered into a definitive agreement with Endeavor Group Holdings, Inc. (EDR) to acquire IMG ARENA and its global sports betting rights portfolio. IMG ARENA's portfolio will enhance Sportradar's content and product offering. This incoming portfolio of global betting rights comprises strategic relationships with over 70 rightsholders covering approximately 39,000 official data events and 30,000 streaming events across 14 global sports.
Sportradar will not be required to pay any financial consideration. Transaction provides financial consideration totaling $225 million comprised of $125 million paid to Sportradar and up to $100 million cash prepayments made by Endeavor to certain of the sports...