Sports Tech saw another record deal making year in 2023, including $37 Billion in deal value across 1,171 deals, surpassing the 2022 announced deals value of $21B by a huge margin.
Our Global Sports Tech Market 2023 Update dives into deal and fundraising activity, buyers and investors to watch, key headlines in the sector, public market valuations and our outlook for 2024. Download the full report below.
Key findings include:
- With $26.7B in total disclosed value through 328 deals, M&A activity increased almost 3x over 2022 (excluding the $68.7B Activision/Microsoft deal). While Media & Broadcasting segment saw the largest deal activity, Wearables & Performance Enhancement reported significant increase of over 2x in deal activity over 2022.
- The landmark WWE/Endeavor merger led the M&A charts followed by CAA/Artemis Group and Vista Outdoor/The Czechoslovak Group deal. Better Collective, Fanatics, Entain and Endeavor were the top strategic buyers.
- $5.7B was raised through 790+ private financings including 14 large $100M+ raises. While # of deals were higher compared to last year (752), the quieter mid to late-stage financing market led to a decline in total money raised compared to last year.
- 2024 is set to be another strong year and we expect Sports Tech to continue outperforming the broader market trends from a dealmaking standpoint.
- 2024 is already off to a fast start with Draft Kings acquiring Jackpocket ($750m), Charter House acquiring Bruin Capital’s Majority stake in Two Circles ($315m), Silver Lake reportedly considering selling parts of Endeavor, and Reliance/Viacom getting close to buying Disney’s India unit.
Download our report below for more detailed insights into the Sports Tech sector.
Full
