KKR-backed Emerald Media acquires minority stake in GSC

The aggregate Rs 520 crore investment will include the secondary purchase of Asia-focused private equity firm FidelisWorld’s stake in Techfront and the primary growth capital.

Emerald Media, backed by private equity giant KKR, today announced that it has acquired a significant minority stake in Global Sports Commerce (GSC) - a sports technology and management company - through a combination of primary and secondary investments.

The aggregate US $80 mn, or Rs 520 crore, investment will include the secondary purchase of Asia-focused private equity firm FidelisWorld’s stake in Techfront and the primary growth capital. The growth capital will enable GSC and its global affiliate Techfront to explore inorganic acquisition opportunities, develop next generation technologies for the sporting eco-system, and expand its operations in the fast-growing digital sporting solutions markets across the globe.

Commenting on the association, M S Muralidharan, CEO of GSC, says, “We are very happy to have a strong partner in Emerald Media, whose team’s extensive investment experience and critical connections across the globe will help deepen GSC’s engagement with the world of sports. This investment further contributes to the consolidation of sports commerce worldwide via use of technology, and it helps us expand our international footprint.”

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.

Rajesh Kamat, managing director of Emerald Media, says in a company statement, “...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 capitalising on the ardor of their fan base. With GSC, we are excited to add sports to our eco-system of assets.”

Paul Aiello, managing director, Emerald Media, adds, “In a few short years GSC has established itself as a leader in the sports technology industry. We are pleased to partner with M S Muralidharan who is a pioneer in the field and look forward to accelerating the expansion of the business as a key player in the industry, as it further expands its reach in the global market.”

According to the press release shared by the company, since inception, Emerald Media has made key investments in YuppTV, one of the world’s leading OTT video platforms for South Asian content, Amagi Media Labs, India’s leading targeted-TV advertisement solutions firm, aCommerce, Southeast Asia’s leading e-commerce enabler and e-distributor and Cosmos-Maya, one of the most successful animation content producers in Asia.