Vista Equity Reportedly Shopping Stats Perform

Posted on: September 14, 2023, 06:52h. 

Last updated on: September 15, 2023, 02:42h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.

Private equity firm Vista Equity Partners is rumored to be shopping sports data provider Stats Perform.

Stats Perform
The Stats Perform logo. Parent company Vista Equity Partners is said to be looking for a buyer for the sports betting data provider. (Image: Business Wire)

Bloomberg reported the news earlier Thursday, citing unidentified sources with knowledge of the matter.

It’s unclear what Vista Equity’s timeline is for divesting Stats Perform, nor were potential suitors or sales prices mentioned. The company uses artificial intelligence (AI) and other technologies to provide sports-related data to media and gaming companies, among other clients.

“Our AI capabilities uniquely position us to drive our industry forward. We take the richest live data in sport, the deepest historical database and partnerships with the leading federations and feed them through our AI program to produce more outputs, enable personalized experiences, surface truly unique insights and connect fans to the content right for them,” according to the Stats Perform website.

Vista acquired Stats in 2014 from FOX Sports and the Associated Press. It was merged with Perform in 2019 after Texas-based Vista invested in DAZN. Through that deal, the buyer gained access to Opta, RunningBall and Watch&Bet.

Stats Perform Could Attract Multiple Suitors

With sports wagering increasingly data-dependent and technology-intensive, many eager suitors could emerge for Stats Perform.

Some analysts view sports betting data providers as “picks and shovels” entities essential to sportsbook operators, particularly during surging interest in live betting and single-game parlays (SGPs) among bettors.

The thesis largely revolves around the growth of the regulated global sports wagering market. It envisions sportsbook operators paying up for premium data and the ability of these companies to adequately wring profits from league data accords. Stats Perform clients include Bet365, Google, La Liga and William Hill, among others, according to its website.

Competitors include Genius Sports (NYSE: GENI) and Sportradar (NASDAQ: SRAD), with market values of $1.25 billion and $3.20 billion, respectively. It remains to be seen if that range provides some template for Stats Perform’s ultimate sale price.

Will this Time Be Different?

This isn’t the first time Vista Equity has shopped Stats Perform. Speculation that effect surfaced in mid-2021, but a transaction didn’t materialize.

Interestingly, those rumors surfaced just two months after rival Genius went public via a reverse merger with a special purpose acquisition company (SPAC) and just three months prior to Sportradar’s initial public offering (IPO).

Stats Perform, led by Chief Executive Officer Carl Mergele, “provides artificial intelligence solutions and other data to betting platforms, technology companies, and National Football League, National Basketball Association and Major League Baseball teams. It also provides insights on individual athlete and team performance in other sports including rugby, cricket, soccer, golf and tennis,” according to Bloomberg.