Sports technology company Atrium Sports has announced the completion of the acquisition of sports analytics provider Synergy Sports Technology (SST).
The deal is set to boost SST’s performance stats and analytics offering to its clients such as the National Basketball Association, Major League Baseball and NCAA Division I-II-III.
A statement released by Nick Maywald, Atrium’s chairman, emphasised: “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.”
The technology company will now have the capabilities to create new content and provide more commercial opportunities, as well as having access to Atrium’s comprehensive data and advanced automated video production platform
Synergy Sports CEO Mark Silver added: “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 sports through innovation in technology. The backing of Eldridge Industries and Elysian Park Ventures is ideally placed to continue to accelerate our growth worldwide.”
The deal is also backed by Eldridge Industries, Elysian Park Ventures, Atrium executives and Atrium and Synergy Sports shareholders. As a result, this, an additional $60m has been included which is reportedly set to be used to expand Atrium’s artificial intelligence capabilities.
Moreover, SST will keep its name despite the acquisition and is set to retain both its product and its service offering under Atrium’s platform umbrella.
Insider Insight: The deal underlines the accelerated importance of data as an asset to grow engagement and improve performances in sport, the collaborations can lead to a plethora of new content that’s specifically designed to deepen engagement amongst a wide variety of demographics.