H.I.G. Growth Partners Sells Telescope to Bally’s Corporation
CHICAGO – August 12, 2021 – H.I.G. Growth Partners (“H.I.G.”), the dedicated growth capital investment affiliate of H.I.G. Capital, is pleased to announce the sale of its portfolio company, Telescope Inc., the leading provider of real-time fan engagement solutions for live events, gamified second screen experiences and interactive livestreams, to Bally’s Corporation (NYSE: BALY).
Telescope’s first-in-class products and services will amplify the Bally’s Interactive, Bally Bet and Bally Sports brands, enabling viewers and players to have an integrated experience that allows them to engage on a multitude of platforms and channels, including online and offline. By delivering customized and interactive content, as well as deeply engaging social experiences, Telescope will connect with Bally’s customers in innovative ways, providing opportunities for Bally’s to attract a younger demographic and augment its loyal customer base. In addition, Telescope provides industry-leading voting solutions via social, online and SMS; sweepstakes, and contests to rewards fans; content creation services; live streaming with custom graphics for all mediums; and campaign management tools that optimize audience engagement.
Adi Dhandhania, Senior Vice President of Strategy and Interactive for Bally’s Corporation, said, “We are excited to integrate Telescope and its innovative audience engagement products into Bally’s growing and diversified portfolio of interactive assets. Mobile technology continues to play an increasingly significant role and Telescope brings an expert level of creativity, innovation, and effectiveness in the social and digital media space that we are confident will enhance our customers’ interactivity and engagement with our products. We look forward to working alongside the Telescope team to not only strengthen the business, but also develop new engagement tools that we can leverage across our expanding media and digital footprint.”
Jason George, Telescope’s Chairman, said, “H.I.G. has been a fantastic partner to our management team, supporting our long-term strategic vision and transformation into a digital-first, real-time experiential technology business. In addition to continuing to provide best-in-class solutions to our highly valued customers, we look forward to working across the Bally’s family to drive new fan engagement opportunities across their growing customer and viewer base.”
H.I.G. Principal, Anish Sheth, added, “We have truly enjoyed our partnership with the entire Telescope team, and believe Telescope’s interactive solutions and technology platform will enable Bally’s to further engage with its viewers and players in unprecedented ways. We are excited to see what lies ahead for Telescope as they become an integral part of Bally’s growth.”
About Telescope Inc.
Telescope Inc. is the leading provider of real-time fan engagement solutions for live events, gamified second screen experiences and interactive livestreams. Backed by over 19 years of experience and unique expertise, Telescope is trusted by the world’s largest entertainment and sports media properties, social platforms, and leading Fortune 500 brands. The company recognizes clients’ distinct needs and pairs them with the best solution via a wide range of products and capabilities, to ensure that they connect to their audiences in innovative ways by delivering relevant, interactive content and deeply engaging social experiences. For more information, visit www.telescope.tv.
About H.I.G. Growth Partners
H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global alternative investment firm with $45 billion of equity capital under management.* H.I.G. Growth seeks to make both majority and minority investments in strong, growth-oriented businesses located throughout North America, Europe and Latin America. H.I.G. Growth Partners considers investments across all industries but focuses on certain high-growth sectors where it has extensive in-house expertise such as technology, healthcare, internet and media, consumer products and technology-enabled financial and business services. H.I.G. Growth strives to work closely with its management teams to serve as an experienced resource, providing broad-based strategic, operational, recruiting, and financial management services from a vast in-house team and a substantial network of third-party relationships. For more information, please refer to the H.I.G. website at www.HIGgrowth.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.