TGI Sport Acquires Supponor
Sports media and technology company TGI Sport has agreed to acquire UK-based virtual advertising specialist Supponor.
Although further details of the deal were not disclosed, the agreement is worth around $108m (£83.3m), according to US media reports.
New York-based TGI Sport has been a minority shareholder in Supponor since 2019, when it first invested in the London-headquartered company.
TGI Sport’s client portfolio includes NHL, LaLiga, Bundesliga, Serie A, and Ligue 1, with the organisation also working on the MLS’ partnership with Apple. The company’s software facilitates virtual advertising during live broadcasts, and will be integrated into more than 4,000 live sports productions this year.
The addition of Supponor’s AIR technology and AI tech developers will help strengthen TGI Sport’s virtual tech offering, helping it introduce a fully integrated model that will provide monetisation opportunities for its clients.
Last year, Supponor was named as one of the Most Innovative Sports Tech Companies by Sports Business Journal for its work with the NHL on on its league-wide adoption of virtual advertising.
In 2021, Bruin Capital made a reported $100m investment in TGI Sport, and became a co-owner of the firm, along with Quadrant Private Equity.
“With this latest acquisition, we are establishing the industry’s best practice in a growth sector with tremendous momentum,” said TGI Sport CEO Martin Jolly.
“We are also positioning TGI Sport to capitalise on all the new opportunities built around AI and, in doing so, maintaining our standing as the leader of live sports technology development and media rights sales well into the future. Combining our collective resources with their incredible potential is very exciting for all of us.”
Sir Martin Broughton, Chairman of Supponor, added, “The decision by TGI Sport to fully acquire Supponor validates the hard work of our entire team and underscores their confidence in the long-term vision and potential of Supponor.
“We are confident that TGI Sport will continue to drive the company forward with the same commitment to excellence and innovation that has been our hallmark.”
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