UK digital sports media company Perform Group Plc (LON:PER) announced today it will raise around GBP120m (USD183m/EUR141m) via a private placement to fund its planned purchase of Opta Sports Data Ltd and some other potential acquisitions.
In a statement, Perform said it plans to place up to 23.9m new ordinary shares, representing a stake of about 9.99%, with both existing and new institutional investors. Morgan Stanley Securities Ltd, Morgan Stanley & Co International plc and UBS Ltd will be acting as bookrunners and corporate brokers.
The group will acquire Opta for around GBP40m to strengthen its position in the supply of sports data and statistics, more specifically in the consumer and media segment. Perform said it is focused on buying either domestic businesses in new geographies, direct to‘consumer products and platforms or complementary products and services.
The firm added it hopes that any additional acquisition would help it deliver further growth in revenues and earnings over time.