Emerald Media, the Pan-Asian company backed by leading global investment firm KKR, to invest in the fast-growing media, entertainment, consumer tech and B2B industries, has acquired a significant minority stake in Global Sports Commerce, a sports technology and management company, through a combination of primary and secondary investments.
The aggregate $80 million investment includes primary growth capital and the secondary purchase of Asia-focused private equity firm FidelisWorld’s stake in Techfront (GSC’s global affiliate). The growth capital will enable GSC and Techfront to explore inorganic acquisition opportunities, develop next generation technologies for the sporting ecosystem, and expand its operations in the fast-growing digital sporting solutions markets across the globe.
FidelisWorld, which had invested in Techfront in 2014, will be fully exiting the business as part of the current transaction. Asia-focused private equity firm ADV Partners, which invested in GSC in 2015-16, will continue to hold a significant minority stake in the company.
“GSC, with its 360-degree sports solutions, has transformed sports tech in India and across the globe by enhancing the way sports franchises interact with fans and capitalizing on the ardor of their fan base. With GSC, we are excited to add sports to our eco-system of assets,” said Rajesh Kamat, managing director of Emerald Media, in a statement.
Headquartered in Singapore, GSC combines cutting-edge technology solutions in the fields of LED signage, sponsorship management, premium consulting, fan engagement, AR/VR, drone-based data acquisition, wireless tech and data-sciences. It offers clients these 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 and Nanoyotta.
Since its launch the company has cultivated strong relationships with franchises across the sporting world with the aim of enhancing the commercial value of its sporting clients and creating new avenues for commerce. The franchises that GSC has partnered with include FIFA, the English Premier League, NRL Australia, Australian Football league, IPL, Formula 1, Big Bash League, New Zealand Cricket, Cricket Australia, IMG and Asia Sports. The company offices in 16 cities in 10 countries including Australia, Hungary, India, New Zealand, South Africa, Switzerland, the UAE, UK, and the USA.
“This investment further contributes to the consolidation of sports commerce worldwide via use of technology, and it helps us expand our international footprint,” M S Muralidharan, CEO of GSC, said.
In 2015, KKR and Chernin Group created Emerald Media, a platform to invest in the media and entertainment industries across Asia. At that time, KKR had committed up to $300 million to Emerald Media and the Chernin Group joined as a minority co-investor. KKR had also acquired a significant minority stake in CA Media, the Asian media portfolio of the Chernin Group.
Recently, Emerald Media acquired a controlling stake in Cosmos-Maya through a combination of primary and secondary stake acquisition. Based in India, Cosmos-Maya, the creators of the Motu Patlu animation series, a popular Indian kids’ show, is the market leader in IP-led Indian kid’s animation content.
Veda Corporate Advisors advised the company on the latest transaction.