Private equity giant KKR-backed investment platform Emerald Media has picked up a significant minority stake in Global Sports Commerce and its global affiliate Techfront for Rs 520 crores ($80m), through a combination of primary and secondary investments, as reported by Yourstory and The Economic Times. The deal, considered to be the largest investment in India by Emerald, will see existing investor Fidelis World’s 100% exit from Techfront to the tune of approximately $23m, while GSCs Asia-focused PE investor ADV partners will continue to hold a significant minority stake in the company.

J Sagar Associates advised Technology Frontiers India, led by partner Aarthi Sivanandh, principal associate Bhavana Alexander, and associate Bhargavi Ravi.

A Mumbai-based team of AZB & Partners along with Morgan Lewis & Bockius represented Emerald Media in the transaction.

Dechert acted for the existing shareholder of Techfront ADV Partners, while a Mumbai team of Shardul Amarchand Mangaldas represented Fidelis World in the deal.

Founded in 2003 headquartered in Singapore, Global Sports Commerce is the holding entity of its global affiliate Techfront and its group entities, and provides tech solutions in sponsorship management, fan engagement, digital commerce and in-stadia LEDs and data sciences, serving large sports leagues such as English Premier League, UEFA, Bundesliga, Formua-1 and IPL. It was also reported that the current investment will enable GSC and Techfront to explore inorganic acquisition opportunities, develop next generation technologies for the sporting eco-system, and expand its footprint across Asia and the US.

2018-03-22

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