Firms: DLA Piper (Catapult Group International); Wilson Sonsini Goodrich & Rosati (XOS Technologies); Clerkin Lynch (PlayerTek)
Deal: Catapult Group International has acquired a US and Irish company in addition to an AU$100 million capital raising.
Value: $100 million capital raising; $80.1 million acquisition of XOS Technologies; $4.9 million acquisition of PlayerTek.
Area: M&A, Finance
Key players: Advising Catapult in the multiple deals were DLA’s equity capital markets and acquisition teams.
Australian corporate partner David Ryan led the equity capital markets group. He was assisted by senior associate Kelly Morrison and lawyer Harriet Johnston.
Australian corporate partner Joel Cox led the acquisition team, with assistance from intellectual property partner Robynne Sanders, senior foreign legal associate Kurt Tiam, lawyer Anna Hedgcock.
DLA lawyers based in Silicon Valley also advised on the company acquisitions, with assistance from partners Benjamin Griebe, Victoria Lee, Cisco Palao-Ricketts, Margaret Keane and David Plewa. The team was supported by US associates Ian Boardman, Christine Boehm and Elena Nrtina.
Australian company Catapult has simultaneously executed a $100 million capital raising and the acquisitions of two companies: XOS Technologies for $80.1 million and PlayerTek for $4.9 million.
Catapult works in sports analytics technology and is involved in the development of a wearable athlete tracking platform used by a number of professional sporting teams around the world.
The $100 million capital raising consisted of an institutional placement and 1-for-10.65 accelerated non-renounceable pro-rata entitlement offer. Catapult’s entitlement offer was fully underwritten by Goldman Sachs Australia Pty Ltd.
According to a statement released by the ASX-listed company, Catapult’s recent growth aims to improve a foothold in the US market, where many elite professional and amateur sports customers are based.
XOS Technologies is a Boston-based company offering video analytics software solutions to sporting teams in the US.
Irish company PlayerTek is the creator of a GPS tracking device marketed to amateur footballers and 'prosumers'.
DLA’s Mr Ryan (pictured) said the firm was “delighted to have advised Catapult on the highly strategic and complementary acquisition of both XOS and PlayerTek”.
“This is a very exciting time for Catapult as they accelerate their expansion in the US market, and fulfil their vision to be the global standard for monitoring athletic performance at all levels and across all sports,” Mr Ryan said.