Financial data and news provider Bloomberg LP sold its Bloomberg Sports analysis division to data firm STATS LLC, the companies said on Thursday, marking the end of Bloomberg's four-year foray into the world of athletic number crunching. The companies declined to comment on terms, but a source close to the deal said the price was between $15 million and $20 million.
The deal is STATS' first since being purchased in June by Vista Equity Partners, a private equity firm with about $13 billion in capital commitments. The purchase allows STATS to apply Bloomberg Sports' quantitative models and algorithms to STATS' real-time and historical sports data. Bloomberg Sports President Bill Squadron said the two companies see growth potential in the field of predictive modeling, which uses data to predict the results of matches. STATS, founded in 1981 and based in Northbrook, Illinois, provides scores, statistics, and fantasy sports services.
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Research Associate at Center for Islam and Global Affairs (CIGA) at Istanbul Sabahattin Zaim University
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