TGI Sport, a specialist in sports technology and media rights, has announced an agreement to acquire Supponor, the live media virtual advertising company, with proprietary technologies and software that delivers virtual ads across live sports broadcasts worldwide. The deal is scheduled to close mid-summer.

Since 2019, TGI Sport has been a Supponor minority shareholder, collaborating on several projects with the 24-year-old company. Supponor will operate within TGI Sport’s technology division, adding its capabilities to other recent TGI Sport acquisitions including virtual advertising company Brand Brigade and media rights and production companies ISG and Sportseen. TGI Sport is backed by Bruin Capital and Quadrant Private Equity.

Since 2020, the NBA, MLB, Formula 1, Serie A, La Liga, Bundesliga, MLS, dozens of regional sports networks, and several others have begun using virtual ads in live broadcasts.. Overall, TGI Sport’s tech and software will support virtual advertising integrated into more than 4,000 live sports productions this year. Its clients include NHL, La Liga, Bundesliga, Serie A, and Ligue 1. TGI is also working with MLS on its exclusive Apple partnership.

“We are delighted to welcome Supponor fully into the TGI Sport group,” said TGI Sport CEO Martin Jolly. “With this latest acquisition, we are establishing the industry’s best practice in a growth sector with tremendous momentum. We are also positioning TGI Sport to capitalise on all the new opportunities built around AI and, in doing so, maintaining our standing as the leader of live sports technology development and media rights sales well into the future. Combining our collective resources with their incredible potential is very exciting for all of us.”

“We are thrilled with the outcome of this transaction,” added Sir Martin Broughton, Chairman of Supponor. “The company began as Virtual Advertising Solutions (VAS) in 2001 and has for more than two decades built a robust and innovative company that in 2021 launched Supponor AIR, an AI-driven by machine learning solution to virtual advertising in live sport. The decision by TGI Sport to fully acquire Supponor validates the hard work of our entire team and underscores their confidence in the long-term vision and potential of Supponor. We are confident that TGI Sport will continue to drive the company forward with the same commitment to excellence and innovation that has been our hallmark.”

Advising TGI Sport on the transaction were:  Simpson Thacher, PwC, and Axis Arbor. Supponor was advised by Hogan Lovells, Grant Thornton, and BDO. Financial terms were not disclosed.