Digital sports media company, Perform Group, is to acquire Swiss firm RunningBall, a real-time sports data provider.
RunningBall will be bought for between €101m and €120m, with an initial consideration of €70m (€50m shares and €20m cash). The deferred consideration will also be paid in cash.
In 2011 RunningBall produced real-time data coverage of over 35,000 sporting events, including over 30,000 football matches, and produced over 1,000 items of data in relation to each match. In 2012 it is anticipated that RunningBall will increase its services to include coverage of over 40,000 events. The firm is head-quartered in Switzerland, with operational centres in Austria, Portugal, Cyprus and Malaysia.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
For the year ended December 31st 2011, the company had revenue of €16.1m and EBITDA (earnings before interest, tax, deprecation and amortisation) of €7.2m, up 20.1% and 75.4% year-on-year, respectively.
Perform's Chairman, Paul Walker, said: "The acquisition of RunningBall is an exciting opportunity to further advance Perform's market leadership whilst at the same time delivering excellent financial returns. We are confident that Perform's strategy of combining strong organic growth with selected acquisitions, in line with our stated criteria, will enable Perform to create significant long-term value for shareholders."
NR
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
