Hudl, a Nebraska-based software developer of video analysis tools for players and coaches, has entered into an agreement to acquire Sportstec, a similar company headquartered in Australia. The deal, coming on the heels of a $72.5M Series C round of venture funding announced in April, is designed to boost Hudl's global footprint for coaching and video analysis products. Terms were not disclosed, but company execs described the acquisition as an all-cash deal slated to close next month.
"The Sportstec and Hudl products complement each other very well," said Hudl CEO David Graff. "Sportstec has built incredibly powerful breakdown and analysis tools that can be used by teams on their local devices and networks, and Hudl has built an incredible distribution platform to fully unlock the value of that breakdown and analysis." Hudl thus far has focused primarily on the amateur sports market, while Sportstec is active in the pro and top collegiate ranks. Hudl generated more than $30M in '14 revenue, while Sportstec had nearly $14M. The deal is Hudl's third acquisition in the past year.
