Perform Group has been sold to Vista Equity Partners in a deal announced today that will combine STATS LLC and Perform. DAZN Group, Perform’s owner, will receive a combination of cash and a significant minority stake in the newly formed company. The transaction is expected to close in the second half of '19. PJT Partners LP acted as the exclusive financial advisor to DAZN and Perform. Freshfields Bruckhaus Deringer and Debevoise & Plimpton acted as legal advisors to DAZN and Perform. Morgan Stanley acted as exclusive financial advisor to Vista and STATS. Kirkland & Ellis acted as legal advisors to Vista and STATS (Perform). FORBES' Steve McCaskill noted DAZN with the deal is "set to focus on its streaming service." It had been speculated that DAZN was "seeking to offload Perform in order to fund global expansion and the acquisition of sports rights following a strategic review of the business." DAZN "comprises the eponymous streaming service and other online properties such as Goal.com," while Perform Content "offers wholesale video services to betting companies and broadcasters as well as data services through Opta" (FORBES.com, 4/15).
