[March 23, 2018] |
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KKR-backed Emerald Media Acquires Significant Minority Stake in Global Sports Commerce
Emerald Media, the Pan-Asia company backed by leading global investment
firm KKR, to invest in the fast-growing media, entertainment, consumer
tech and B2B industries, today announced that it has acquired a
significant minority stake in Global Sports Commerce ("GSC"), one of the
world's largest sports technology and management companies, through a
combination of primary and secondary investments.
This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180322006112/en/
The aggregate US$80mn investment will include the secondary purchase of
Asia-focused private equity firm FidelisWorld's stake in Techfront and
the primary growth capital. The growth capital will enable GSC and its
global affiliate Techfront to explore inorganic acquisition
opportunities, develop next generation technologies for the sporting
eco-system, and expand its operations in the fast-growing digital
sporting solutions markets across the globe.
FidelisWorld, which had invested in Techfront in 2014, will be fully
exiting the business as part of the current transaction. Asia-focused
private equity firm ADV Partners, which invested in GSC in 2015-16, will
continue to hold a significant minority stake in the company.
Headquartered in Singapore, GSC combines cutting-edge technology
solutions in the fields of LED signage, sponsorship management, premium
consulting, fan engagement, AR/VR, drone-based data acquisition,
wireless tech and data-sciences. It offers clients these comprehensive
sports technology and management services by leveraging its extensive
network of companies that include Techfront, ITW, Qubercomm,
Sportsgateway, Media Bay, Beyond Boundaries, Cartoon Mango and Nanoyotta.
Since its launch, the company has cultivated strong relationships with
franchises across the sporting world with the aim of enhancing the
commercial value of its sporting clients and creating new avenues for
commerce. The franchises that GSC has partnered with include FIFA, the
Englsh Premier League, NRL Australia, Australian Football league, IPL,
Formula 1, Big Bash League, New Zealand Cricket, Cricket Australia, IMG
and Asia Sports. The company offices in 16 cities in 10 countries
including Australia, Hungary, India, New Zealand, South Africa,
Switzerland, the UAE, UK, and the USA.
M S Muralidharan, CEO of GSC, said, "We are very happy to have a
strong partner in Emerald Media, whose team's extensive investment
experience and critical connections across the globe will help deepen
GSC's engagement with the world of sports. This investment further
contributes to the consolidation of sports commerce worldwide via use of
technology, and it helps us expand our international footprint."
Rajesh Kamat, Managing Director of Emerald Media, said, "The
introduction of digital technology into the world of sports has helped
amplify fans' appreciation of the games and has helped to create an
alternative source of revenue for clients, besides the games themselves.
GSC, with its 360-degree sports solutions, has transformed sports tech
in India and across the globe by enhancing the way sports franchises
interact with fans and capitalizing on the ardor of their fan base. With
GSC, we are excited to add sports to our eco-system of assets."
Paul Aiello, Managing Director of Emerald Media, added, "In a few
short years GSC has established itself as a leader in the Sports
technology industry. We are pleased to partner with M S Muralidharan who
is a pioneer in the field and look forward to accelerating the expansion
of the business as a key player in the industry, as it further expands
its reach in the global market."
Veda Corporate Advisors advised the company on the transaction.
About Emerald Media
Emerald
Media is a Pan-Asian company backed by KKR to invest in the
fast-growing media, entertainment, consumer tech and B2B industries
across Asia for which KKR has committed up to $300mm from its KKR Asian
Fund II. Emerald Media is led by industry veterans Rajesh Kamat and Paul
Aiello, supported by an experienced team of investment and operating
executives. Paul and Rajesh have a combined experience of more than 40
years in the industry and bring a unique blend of operational and
investment acumen to their business approach. Since inception, Emerald
Media has made key investments in YuppTV, one of the world's leading OTT
video platforms for South Asian content, Amagi Media Labs, India's
leading targeted-TV advertisement solutions firm, aCommerce, Southeast
Asia's leading ecommerce enabler and e-distributor and Cosmos-Maya, one
of the most successful animation content producers in Asia.
About Global Sports Commerce (GSC)
Global
Sports Commerce (GSC) is one of the world's largest Sports
Technology and Management Companies providing dynamic Solutions,
Sponsorship & Commercial Management, and Premier Consulting Services to
leading global sports stakeholders - including sports bodies, leagues,
rights holders, stadiums and brands. GSC, headquartered in Singapore,
consists of 13 subsidiary companies with offices in 16 cities, across 10
countries. GSC's works with preeminent organizations in sports such as
FIFA, UEFA, IAAF, ICC, BCCI, EPL, IPL, Bundesliga, IPL, AFL etc.,
through its various subsidiaries.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180322006112/en/
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