Media entertainment investment platform Emerald Media has invested $80 million in sports technology solutions company Global Sports Commerce (GSC). With this investment, Emerald Media has acquired a minority stake in the Global Sports Commerce.
The fresh capital will be used to develop next-generation technologies for the sporting ecosystem, and to further expand its operations in Asia and the US.
Meanwhile, Asia-focused PE firm ADV Partners, which had invested in Global Sports Commerce in 2016, will continue to hold a significant minority stake in the company.
The fresh capital will be deployed towards expanding geographical footprints in the international markets as well and also to build our technology in developing sports gear.
Founded in 2003 by MS Muralidharan, GSC provides tech solutions in sponsorship management, fan engagement, drone-based data acquisition, wireless tech and data-sciences, in-stadia LEDs amongst others.
It offers a 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 among others.
The Chennai-based company currently works with large sports leagues such as English Premier League, UEFA, Bundesliga, Formua-1, and IPL, among others.
The platform has offices in 16 cities across 10 countries including Australia, Hungary, India, New Zealand, South Africa, Switzerland, the UAE, UK, and the USA.
According to the PwC report 2017, the global sports industry is ‘undergoing more disruption than ever’ as a result of ongoing shifts in media consumption, the emergence of new technologies and a rapidly evolving sponsorship market.
The survey revealed that the sports industry’s growth rate will slow down by over 32 per cent in the coming three to five years – although it is also predicted that the industry will grow by an average of 6.4 per cent over the same period.
The funding news is sourced from ET.