Arnold Bloch Leibler has acted as Australian legal counsel to ASX-listed global sports technology business, Catapult Sports Ltd (ASX:CAT), on its strategic acquisition of IMPECT GmbH, and associated capital raising.
IMPECT operates a soccer intelligence platform that provides insights on player performance and team dynamics. The acquisition further strengthens Catapult's comprehensive offerings in the professional sports market.
Catapult has entered into a binding agreement to acquire 100% of the shares in IMPECT, for total consideration of up to $139 million. The acquisition will be funded by a $150 million capital raising, comprising a $130 million fully underwritten institutional placement and a non-underwritten Share Purchase Plan targeting to raise a further $20 million.
The ABL team advising Catapult was led by M&A and Capital Markets partner Jeremy Lanzer, with support from senior associate Michelle Ainsworth and lawyer Harry Campbell.
Jeremy commented on the transaction: “As rapid technological change continues to reshape the global elite sports industry, this acquisition positions Catapult to harness innovation and further strengthen its leadership in performance technology. Our team is proud to be supporting Catapult on another cross-border acquisition and the accompanying capital raising."
Catapult CEO & Managing Director Will Lopes said: “The combination of IMPECT and Catapult is great news for our customers, and represents significant progress toward our goal of becoming the global platform for professional sports teams.”
This latest transaction follows Catapult's strategic acquisition of US-based athlete monitoring company, Perch (Catalyft Labs, Inc.), announced in June this year, on which ABL also acted as Catapult's Australian legal counsel.
