M&A in sports technology is booming as dealmaking reaches new heights in Q2, a new report shows
The sports tech sector had one of its best quarters ever in Q2, according to investment bank Drake Star.The WWE-UFC merger resulted in a combined business valued at $21.4 billion.
"While all other industries are in an innovate-and-watch situation in terms of doing more acquisitions and financings, I think sports has seen a lot of activity," Pareek said.In Q2, the biggest deal — and one of the largest ever sports-tech deals — was the April acquisition of WWE by Endeavor, the parent company of the UFC. With WWE valued at $9.3 billion, the resulting combination is worth $21.4 billion.
The biggest change Pareek said he sees in the space is a growing inflow of capital. At the end of 2022, the bank had tracked more than $5 billion in new funds, such as venture capital and private equity, going into sports tech and it's already seeing in 2023 nearly $6 billion coming in, he said.
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