Sports betting company William Hill appears close to cashing in its overseas operations in a deal with 888 Holdings worth over $2.76 billion. 

Mobile gambling operator 888 beat out several private equity firms vying for the deal, including Betfred, Apollo Global Management, and Tipico. CVC Capital Partners, a former owner of William Hill, dropped out of the bidding process in August.

• U.K.-based William Hill was acquired by Caesars Entertainment in April for around $4 billion.
• The deal with 888 includes around 1,500 in-person betting shops in the U.K. and William Hill’s online operations in Spain and Italy.

It’s the second big move in sports betting for 888 this month: Sports Illustrated launched its online sportsbook in partnership with 888 last week. The two companies struck a deal in June, allowing 888 to use the 67-year-old magazine’s name and branding in sports betting properties.

Gibraltar-based 888 is listed on the London Stock Exchange with a market capitalization of $2.08 billion. In addition to its online sports betting operations, 888 runs online gambling and poker sites. 

The company’s value has increased 267% since the beginning of 2020.

Two weeks after filing for an IPO, On Holding — known for On running shoes — revealed plans to raise as much as $622 million as part of the offering.

With 31.1 million shares priced at $18 to $20 each, the sale would value On at up to $5.5 billion if a greenshoe option — which grants the underwriter permission to sell more shares if demand is high — is exercised, according to Bloomberg.

On should have little problem selling the shares after increased interest from investors and consumers recently.

• Roger Federer, tennis star and the seventh-highest-paid athlete in the world, invested $54 million in the company in 2019 after 20 years with Nike. Stripes and Point Break Capital are also listed as investors in the filing. 
• On’s net sales for the six months that ended in June were up 84% to $344.2 million from $186.5 million the year prior.

The company will be listed under ticker ONON on the NYSE. After its last funding round, On reached a reported valuation of around $2 billion.

On running shoes are currently sold at more than 6,500 retail stores in over 50 countries.

Sportradar plans to raise as much as $532 million for an IPO, per a regulatory filing on Tuesday. The sports data aggregator will offer 19 million Class A shares priced between $25 and $28 apiece.

As part of the transaction, entities affiliated with Eldridge and Radcliff Management have agreed to purchase $159 million worth of Class A shares at the IPO price. 

Sportradar has been expanding rapidly ahead of its debut as a publicly traded company. 

• March: The company agreed to acquire Synergy Sports, a college sports data and video analytics provider. 
• May: The company agreed to acquire InteractSport, an Australian sports data company with expertise in cricket.
• August: It extended its partnership with FanDuel, making Sportradar its data and odds supplier for U.S. sports through 2028. 

Sportradar planned to go public in March via a merger with Horizon Acquisition Corp., a SPAC backed by Los Angeles Dodgers co-owner Todd Boehly, valuing the company at $10 billion. 

The deal dissolved following SEC-issued guidance that some SPAC investments shouldn’t be classified as equity, but as assets or liabilities. 

Sportradar pocketed $478 million in revenue in 2020 and generated $26.1 million of net income during the same period.