Sunday, May 19, 2024
Drake star says sports tech investments stay strong.

Drake star says sports tech investments stay strong.

Featured Image

Main Content

Sports tech has been one of the busiest corners in the tech market, with the sector seeing more than 100 mergers & acquisitions deals in the second quarter alone, according to a new market analysis by Drake Star.

Drake Star, a technology-focused investment bank, counted 105 M&A deals in the spring quarter ending June 30, headlined by the $9.3 billion acquisition of WWE by Endeavor Group. But even without including the blockbuster wrestling deal, M&A activity handily eclipsed volume and dollar amounts seen in each of the past four quarters, according to the Drake Star report.

“While a lot of segments have been slowing down, because of low deal volume and valuations, sports tech has been the flag bearer in terms of having an enormous amount of activity,” Mohit Pareek said in a phone call. Pareek is a Los Angeles-based principal at Drake Star and one of the report’s authors. “It’s a pretty hot space having a lot of acquisition activity, big players are active, all the private equity platforms are active. Sports has been growing the most over the past few years.”

Other sizable M&A deals include the $1.25 billion purchase of IMG Tennis Academy by global investment bank BPEA EQT and the $925 million buy of Polish sportsbook operator STS Holdings by Entain C

Source

About Jonty Jackson

Welcome to the exciting world of sports with Jonty Jackson, who with his passion for all things sports-related, delivers engaging and informative posts that keep his readers up-to-date on the latest news, trends, and developments in the world of games and sports. Whether you're a fan of e-gaming, a lover of outdoor adventures, or a die-hard sports enthusiast, Jonty's posts are the perfect place to find the latest updates and insights on your favorite games and sports. Follow him and join the conversation today!

Check Also

Sports destroying itself by excusing miscreants inexcusably.

Sports destroying itself by excusing miscreants inexcusably.

Sports World Destroying Itself by Excusing Miscreants By Phil Mushnick | August 17, 2023 | …

Leave a Reply

Your email address will not be published. Required fields are marked *