You got to love the smell of a pending IPO.
Perform Group, which webcasts and provides content for various sports both as a white label service and its own consumer-facing offering, has announced its intention to float on the London Stock Exchange.
According to paidContent, the company is planning to sell 25 percent at a valuation of around £500 million. This will be split between somewhere in the region of £70 million new shares plus existing shareholders selling some of their stake. 58 percent of Perform is currently owned by industrialist Len Blavatnik’s Access Industries, while 40% is held by management and employees.
Perform was formed in 2007 through the merger of Premium TV, a provider of web and mobile solutions to the sports sector and the Inform Group, a leading digital sports rights agency. In February of this year, the company acquired the football site Goal.com.