Atrium Sports today announced the acquisition of Synergy Sports Technology, meaning Mavericks Owner Mark Cuban is "selling one of his sports-technology investments to the owners" of the Dodgers, according to Scott Soshnick of BLOOMBERG NEWS. Atrium Sports is a tech company "backed by Todd Boehly and other Dodgers owners," while Cuban "is the biggest investor" in data and video analytics company Synergy Sports Technology. Financial terms were not disclosed, but a source said that the "total purchase price was about" $90M. Boehly is chairman of Eldridge Industries, which "made the lead investment." Elysian Park Ventures, which "includes Boehly and fellow Dodgers owners Mark Walter, Magic Johnson and Peter Guber, also invested." Atrium will "likely merge Synergy with automated video capture company Keemotion, which it acquired earlier this year" (BLOOMBERG NEWS, 12/16). CNBC.com's Jabari Young cites sources as saying that the deal includes $60M "backed by Eldridge Industries, Elysian Park Ventures, Atrium executives and Atrium and Synergy Sports shareholders." Sources also said that the Atrium-Synergy acquisition "creates a company with a combined value" of $100M (CNBC.com, 12/16).
WHAT COMES NEXT: Inner Circle Sports served as financial advisor to Synergy Sports for the acquisition that is expected to accelerate Atrium's expansion strategy and bolster its end-to-end technology solution offering globally. Synergy Sports provides teams with analytics and tools that power scouting, player development and entertainment monetization. By integrating Synergy's content into Atrium's platform, teams, leagues and federations will gain greater access to comprehensive data and advanced automated video production of live sports events. This comes after Atrium's recent partnership with FIBA to launch the FIBA Connected Stadium rollout (Eric Prisbell, THE DAILY).
