Catapult acquires rival GP Sports
Sport technology firm Catapult Sports has raised $6 million in investment backing in order to buy its biggest rival, GP Sports.
Catapult, which sold a small stake this year to US billionaire Mark Cuban, will also use the funds to develop sales and marketing efforts in the USA and Europe.
The capital raising, which was about two times oversubscribed, gives Catapult a valuation of about $35 million.
Catapult specialises in GPS-tracking equipment, attached to sports players via a vest worn under their playing jumper or uniform.
GPS tracking devices for professional athletes are becoming increasingly important to sports scientists and coaches to measure player movement and fatigue during matches and training – everything from how quickly an athlete accelerates to how their heart changes – to improve game strategy and training programs
Working with more than 450 elite teams worldwide, the combined group’s global client base now includes:
• The entire AFL, NRL and Australian Super Rugby conference
• 2014 NFL, NBA and US college football champions
• 12 squads in the 2014 FIFA World Cup
Catapult Chief Executive Shaun Holthouse is excited about his company’s growth but assures Catapult and GPSports will continue running as separate companies.
He explains “we are excited about adding GPSports to the Catapult group.
“Like Catapult, GPSports has differentiated itself from competitors by developing evidence-based systems with leading sports practitioners which improve athlete performance and teams.
“This acquisition cements our market-leading position and Catapult’s commitment to our existing, new and potential clients for delivering world-leading performance management technology. With the industry maturing rapidly resulting in consolidation, our core focus will now be to develop scale and distribution across the globe”.
Following the deal, GP Sports will keep a separate sales team and continue to service its existing client base.
For more information visit www.catapultsports.com
22nd April 2014 - CSIRO RESEARCH INTEGRATES WITH CATAPULT SPORTS TRACKING AND POSITIONING TECHNOLOGY
