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Mark Cuban, the billionaire owner of the National Basketball Association’s (NBA) Dallas Mavericks, has agreed to sell his investment in Synergy Sports Technology as part of the data and video analytics platform’s acquisition by Atrium Sports.
The deal – worth US$90 million overall, according to Bloomberg – is designed to help accelerate Atrium’s global expansion strategy by strengthening the Belgian technology company’s end-to-end technology solution offering.
Synergy Sports’ buyout, announced by Atrium on 16th December, was completed with a lead investment from Eldridge Industries, the private investment firm, whose chairman is Todd Boehly, minority owner of Major League Baseball’s (MLB) Los Angeles Dodgers, and additional investment from Elysian Park Ventures, whose executive board also includes Boehly and other Dodgers owners, as well as other parties.
Inner Circle Sports, a boutique investment bank focused on the global sports and media industry, served as financial advisor to Synergy Sports during the acquisition.
The Synergy Sports platform, which has clients including numerous US sports leagues, such as the NBA, Major League Baseball (MLB), and National Collegiate Athletic Association (NCAA), provides teams with player analytics and scouting tools, while also aiding the monetisation of video content.
Atrium will integrate the Synergy Sports platform into its offering in a bid to provide rights holders greater access to comprehensive data and an advanced automated video production suite for live sporting events.
Mark Silver, Synergy Sports’ chief executive, said: “Having proven our true value in the basketball industry, we’re now excited to be working closely with other sports, like baseball and hockey, alongside a partner that shares our passion to develop sport through innovation in technology.
“The backing of Eldridge Industries and Elysian Park Ventures is ideally placed to continue to accelerate our growth worldwide.”
The move is latest Atrium’s latest acquisition, having this year also acquired automated video production company Keemotion, which it will now merge with Synergy, according to reports.
Nick Maywald, Atrium’s chief executive, said: “Synergy Sports is relied on by virtually every elite and semi-elite basketball team worldwide, and we’re delighted for them to join the Atrium Sports family.
“Combining their technology with our autonomous video production creates exciting opportunities to simplify workflow for coaches and analysts and accelerates the development of how AI can benefit sports.”
Boehly added: “Through Nick and Mark’s strong management, we believe Atrium’s analytical capabilities and competitive advantage have the potential to change the delivery of content in the sports industry.”
Mark Cuban, the billionaire owner of the National Basketball Association’s (NBA) Dallas Mavericks, has agreed to sell his investment in Synergy Sports Technology as part of the data and video analytics platform’s acquisition by Atrium Sports.
The deal – worth US$90 million overall, according to Bloomberg – is designed to help accelerate Atrium’s global expansion strategy by strengthening the Belgian technology company’s end-to-end technology solution offering.
Synergy Sports’ buyout, announced by Atrium on 16th December, was completed with a lead investment from Eldridge Industries, the private investment firm, whose chairman is Todd Boehly, minority owner of Major League Baseball’s (MLB) Los Angeles Dodgers, and additional investment from Elysian Park Ventures, whose executive board also includes Boehly and other Dodgers owners, as well as other parties. Inner Circle Sports, a boutique investment bank focused on the global sports and media industry, served as financial advisor to Synergy Sports during the acquisition.
The Synergy Sports platform, which has clients including numerous US sports leagues, such as the NBA, Major League Baseball (MLB), and National Collegiate Athletic Association (NCAA), provides teams with player analytics and scouting tools, while also aiding the monetisation of video content.
Atrium will integrate the Synergy Sports platform into its offering in a bid to provide rights holders greater access to comprehensive data and an advanced automated video production suite for live sporting events.
Mark Silver, Synergy Sports’ chief executive, said: “Having proven our true value in the basketball industry, we’re now excited to be working closely with other sports, like baseball and hockey, alongside a partner that shares our passion to develop sport through innovation in technology.
“The backing of Eldridge Industries and Elysian Park Ventures is ideally placed to continue to accelerate our growth worldwide.”
The move is latest Atrium’s latest acquisition, having this year also acquired automated video production company Keemotion, which it will now merge with Synergy, according to reports.
Nick Maywald, Atrium’s chief executive, said: “Synergy Sports is relied on by virtually every elite and semi-elite basketball team worldwide, and we’re delighted for them to join the Atrium Sports family.
“Combining their technology with our autonomous video production creates exciting opportunities to simplify workflow for coaches and analysts and accelerates the development of how AI can benefit sports.”
Boehly added: “Through Nick and Mark’s strong management, we believe Atrium’s analytical capabilities and competitive advantage have the potential to change the delivery of content in the sports industry.”
