Fox Sports, AP Agree To Sell STATS LLC to Private-Equity Firm
FOX Sports and The Associated Press plan to sell their sports data company, STATS LLC, to Vista Equity Partners, a San Francisco-based private-equity firm with over $12 billion in committed capital focused on investing in software, data, and technology-enabled services companies. In addition to providing broadcasters with real-time scoring, historical sports information, and sports content from AP, STATS provides specialized technology for viewing, tracking, and analyzing sports. Its SportsVU tracking system was installed in every NBA venue prior to the 2013-14 season.
FOX Sports brought in AP as an equal partner in STATS in 2005. Based in Chicago, STATS is one of the world’s leading sports technology, data and content companies. Both AP and FOX Sports will continue their usual business relationship with STATS after the sale. AP customers will not be affected by the sale.
“It’s been a privilege to partner with the AP, and under the leadership of STATS CEO Gary Walrath, help grow STATS into one of the most innovative sports technology and information companies in the world,” said Eric Shanks, president and COO, FOX Sports, in a press release. “We’re confident Vista will be able to build upon that success and drive STATS to even greater heights.”
“AP and FOX Sports have had an excellent and productive partnership. Together with the STATS team we’ve built a highly successful enterprise that we expect will be able to continue its growth and innovation under Vista,” said AP President and CEO Gary Pruitt.
The Raine Group acted as exclusive financial adviser to The Associated Press and 21st Century Fox. The transaction is expected to close this summer and terms have not been disclosed.