Perform Acquires Sports Data Company RunningBall

Sports?Media rights group Perform has bought sports data company RunningBall for €120m (£93m), prostate the largest acquisition it has made since floating last year.

RunningBall produces real-time data coverage of sporting events – covering more than 35, here 000 events last year including over 30,000 football games around the world, by using a network of 1,100 scouts who key in information live from venues.

It had revenue of €16.1m and made a pre-tax profit of €7.2m for 2011, up 20 per cent and 75 per cent respectively from the previous year.

The Swiss-based company is still owned and run by its founder, IT entrepreneur Hans Thomas Gross.

The deal was well received by Perform’s investors yesterday, sending the company’s shares up seven per cent. Analysts at Numis also applauded the deal, which is the latest in a series of acquisitions that Perform has made in recent months.

“We could not have designed a better business for Perform to have acquired. Of the five key elements in digital sports, Perform already has market-leading positions in four, while RunningBall adds the fifth,” said Paul Richards at Numis.

Perform will pay an initial consideration of €20m cash and €50m in new Perform shares to Runningball, plus a deferred consideration of €31m-€50m depending on 2012 results.

Perform raised less than expected when it floated last April, but has been raising its profile ever since, and earlier this month said it was track to deliver forecast revenue and profits.