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Fox Sports and AP sell STATS to Vista Equity Partners
MUMBAI: Fox Sports and The Associated Press have agreed to sell their sports data company STATS to Vista Equity Partners, a leading San Francisco-based private equity firm with over $12 billion in committed capital focused on investing in software, data and technology-enabled services companies.
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, providing real-time scores, historical sports information, sports content from AP and specialised technology for viewing, tracking and analyzing sports.
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 Fox Sports president and COO Eric Shanks. “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 advisor to the Associated Press and 21st Century Fox. The transaction is expected to close this summer and terms have not been disclosed.