Reflective of a third quarter in which all major metrics were higher, Sportradar began its earnings call Wednesday with the announcement that it was authorizing an additional US$100 million in share repurchases. SRAD shares were trading at US$25.58 at the time.
Two days ago (3 November), Sportradar had closed its acquisition of IMG Arena, a data purveyor to sports fans.
“IMG Arena fits squarely in (Sportradar’s) greater strategy … enhances our already robust global portfolio,” enthused CEO Carsten Koerl, bringing “more must-have betting content.” Some synergies from the IMG Arena deal would be immediate, Koerl said, while others would take time to manifest.
