Sportradar is a sports data firm founded in 2001 based in Switzerland. It is a Multinational Corporation known globally as a leader of sports data and digital content services. Sportradar collects and analyses sports data then distribute the same to the media, bookmakers, sports federations and betting companies. Some of its investors include the NFL and NBA owners Ted Leonsis, Michael Jordan and Mark Cuban.

Sportradar will go public after coming to terms with Todd Boehly-led SPAC on a reverse merger deal. Before getting into the details of the deal, there are few terms that one needs to understand.

What is a Reverse Merger?

A reverse merger occurs when private company mergers with a publicly trading company and operates under its legal shell. The private company takes over the management of the publicly trading company, controls ownership of the stock and even changes its name. For a reverse merger to happen, both companies don't have to be operating in the same industry. In most cases, reverse mergers are considered when the public company begins to fail financially and is left with the legal public corporate shell as its only asset.

What is SPAC

Special Purpose Acquisition Company (SPAC) is a company created to provide capital through an Initial Public Offering (IPO). They do not have any commercial operations. The reason for raising capital is for the acquisition of an existing company. SPACs are given a grace period of two years to finalize an acquisition process, failure to meet the deadline, they must return the raised funds to investors.

Sportradar Going Public

Sportradar, through Horizon Acquisition Corp.11, a SPAC, will go public. The corporation is led by Todd Boehly, Los Angeles Dodgers minority owner. According to Sportico, the deal values Sportradar at $10 billion.
Initially, the company was considering a traditional IPO. If that was to happen, Sportradar IPO would fetch a lesser amount compared to that of the SPAC. The global data company has already signed a letter of intent with Horizon, the Special Purpose Acquisition Company. This becomes an initiating step of the acquisition process.

Major League Baseball (MLB) Connection

Apart from being a minority owner of the Los Angeles Dodgers, Boehly is also the co-founder, CEO and chairman of private equity firm Eldridge Industries.  The firm has in the past invested in companies dealing with sport technology such as DraftKings and Atrium Sports.  Sportradar entered the U.S market in 2013, since then, it has had partnerships with major leagues including NFL, NBA, MLB, NASCAR and MLS and other sportsbooks such as DraftKings and FanDuel.

Some other development with Sportradar is its acquisition plans for Fresh Eight. Fresh Eight is a company that helps sports betting operators with automated marketing messages. 
Sportradar takes pride in its technological innovation and deep understanding of its client's needs.  It understands and leverages the power of sports data and digital content on behalf of its global clients.

Sportradar To Go Public Via SPAC