Sport video streaming platform DAZN on Tuesday said it had agreed to buy Eleven Group's global sports media businesses to bolster its portfolio of rights, including the top soccer leagues in Portugal and Belgium.
DAZN said the deal would also complement its offerings in Italy, German-speaking markets and Spain, where it already holds top-tier domestic soccer rights, and will take it into Taiwan and other Southeast Asian markets.
Team Whistle, a short-form original social media content provider, is also included in the deal, which will bring total revenue of around $300 million a year, DAZN said.
Terms were not disclosed, but a source close to the deal said the price was at the lower end of a typical two-to-three-time multiple, in part because it was structured as a share-purchase agreement.
DAZN Group CEO Shay Segev said the deal was "a big step forward in our mission to be the leading global sports platform."
Eleven was founded in 2015 by Italian entrepreneur Andrea Radrizzani, who is the majority owner of English Premier League club Leeds United.
He will join DAZN's board after completion, DAZN said.
Backed by billionaire Len Blavatnik, DAZN has expanded into more than 200 countries, offering sports including soccer and boxing. Last year it won the right to screen Serie A live matches in Italy with a €2.5 billion ($2.7 billion) bid.
The move could see further consolidation in Japan's streaming market, where DAZN broadcasts domestic soccer's J. League, Nippon Professional Baseball, Formula One and a range of other international competitions. Eleven's Japanese branch holds the rights to NPB's farm-team games as well the X League, Japan's semiprofessional American football circuit, and volleyball's V. League.