At the end of 2022, the bank had tracked more than $5 billion in new funds, such as venture capital and private equity, going into sports tech and it's already seeing in 2023 nearly $6 billion coming in, he said. The biggest change Pareek said he sees in the space is a growing inflow of capital. Half of the 10 largest deals were in fantasy, esports, and betting. Thirty-one mergers and acquisitions happened in the media and broadcasting subsector, followed by 29 in fantasy, esports, and betting, and 22 in fan engagement and experience. Other billion-dollar deals outlined in the report include the $1.25 billion acquisition of sports-focused education brand IMG Academy by private-equity firm BPEA EQT and the $1.2 billion acquisition of the online-gaming company NeoGames SA by gaming and tech giant Aristocrat. With WWE valued at $9.3 billion, the resulting combination is worth $21.4 billion. In Q2, the biggest deal - and one of the largest ever sports-tech deals - was the April acquisition of WWE by Endeavor, the parent company of the UFC. This comes after a record year for sports-tech dealmaking in 2022. "While all other industries are in an innovate-and-watch situation in terms of doing more acquisitions and financings, I think sports has seen a lot of activity," Pareek said. The large number of new M&A deals, coupled with an influx of capital and a rebounding market, are driving growth in sports tech, Drake Star principal Mohit Pareek told Insider. By comparison, there were 61 deals announced in Q2 2022. The period saw the highest number of mergers and acquisitions in the years Drake Star has been analyzing the sector with 105 announced deals that totaled $14.5 billion, based on the deal values that were disclosed. The sports-technology sector had one of its busiest and most lucrative periods during the second quarter of 2023, according to a new 25-page report from the tech investment bank Drake Star. The WWE-UFC merger resulted in a combined business valued at $21.4 billion.Mergers and acquisitions reached a quarterly high of 105 deals.The sports tech sector had one of its best quarters ever in Q2, according to investment bank Drake Star.Account icon An icon in the shape of a person's head and shoulders.
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