Sports teams and leagues are always looking for new revenue sources, including ways to get more relevant advertising down around the action. Bruin Sports Capital, a New York-based investment firm, is looking to do just that on existing digital boards.
Bruin reached an agreement with Australian investment firm Quadrant Private Equity to become co-owner of global sports technology and media company TGI Sport. The investment by Bruin is around to $100 million, per the New York Times, and is pending regulatory approval.
“It just doesn’t make sense that I’m viewing a game looking at ads that don’t mean anything to me,” said Bruin CEO George Pyne. “We believe it’s a disruptive technology that allows brands to engage consumers differently.”
TGI’s robust portfolio of advertising and broadcast technologies used by venues and events across the globe made it an attractive business venture for Bruin and Quadrant. The acquisition helps Bruin expand its international footprint and gives Quadrant more traction in sports.
TGI takes part in more than 3,500 events annually and has more than 12 miles of electronic signage currently in operation. Quadrant has raised $6.4 billion for 80 different investment opportunities since 1996.
TGI has gained recent recognition due to its Parallel Ads broadcast technology, which allows broadcasters of sporting events to show at-home viewers electronic signage different from what is displayed in-venue. The technology is currently used by FIFA and Major League Soccer.