B&C helps XL Media with $30m sale of North American business to Sportradar AG

13/11/2024

We're delighted to have helped XLMedia, a sports and gaming digital media company, with the US$30m sale of its North American business assets to sports technology company Sportradar AG.

Sportradar’s acquisition reflects a multiple of 5.5x the division’s 2023 EBITDA, with the total deal valuing XLMedia’s North American assets at up to 8.8p per share. The company's decision to divest its North American assets follows a strategic review by the board, which found that the value of its individual business segments was not fully reflected in the company’s share price.

Earlier this year, XLMedia also sold its Europe and Canada sports betting and gaming assets to Gambling.com. Together with the North American deal, the sales could generate up to $72.5m for XLMedia.

Our thanks to our wonderful clients at Ashurst and Cavendish.

If you'd like to find out how we can help ensure the success of your M&A transactions, chat with us today: hello@blackandcallow.com.

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