Summary
- Sports tech business Catapult has acquired Science for Sport, a sports content platform providing educational content to the global sports industry.
- Science for Sport Founder Owen Walker continues to be associated with the company and is closely working with the leadership team.
Catapult Group International Ltd (ASX:CAT) has announced the acquisition of a sports content platform. Science for Sport, a profitable subscription online sports learning platform, has developed into a leading source of content, community engagement and online courses in the global sports science industry.
Catapult traces its roots back to the Sydney Olympics when it was formed to maximise the performance of athletes. It officially came to existence in Melbourne in 2006.
It is a research and technology driven business providing products and services like wearable tech, athlete management and video analysis to a range of sports, including football, American Football, cricket, basketball, baseball, ice hockey and rugby.
Science for Sport Acquisition
Science for Sport has gained hundreds of thousands of followers. It is among the most trusted information sources for sports practitioners.
Science for Sport provides athletes with answers to performance-related queries, enhanced recovery methods, lowering the risk of soft tissue injuries, and key sports issues such as athlete’s agility.
The acquired company has two core paid products. It publishes an online magazine, which incorporates the latest sports science research content. Science for Sport also runs educational courses emphasising on topics like sports nutrition, coaching and performance.
The platform generates positive free cash flow and has built a community of sharing best practices, knowledge, content, and world-class research.
Catapult started its partnership with Science for Sport in the beginning of 2020. The partnership has proved to be extremely fruitful and has proliferated engagement, reach and influence on its platform.
Catapult plans to progress the development of its professional service solutions with the acquisition of Science for Sport. Its professional service solutions cater to professional and amateur customers for advanced training and education content.
Sports for Science was founded by former Head of Academy Sports Science for Cardiff City FC Owen Walker. He would continue to remain in the business and work closely with the leadership team to support the vision of the company.
FY21 Business Update
As of 9 November, Catapult reported a cash balance of US$24 million, excluding drawn loans. This was driven by strong cash collections and cost savings associated with COVID-19.
The company highlighted that the usage of its cloud-based SaaS solutions now exceeds the previous year across all regions. Catapult also unveiled plans to repay its loan facilities, given that it has sufficient liquidity.
In FY20, the company generated a positive free cash flow of US$6.4 million that was ahead of its planned positive free cash flow status in FY21.
New business opportunities were delayed to FY21 from FY20 due to the pandemic, and many of these opportunities remain open. Catapult continues to keep a strategic focus on investment and innovation.
On 24 November 2020 (AEDT 1:39 PM), CAT traded at $2.080, down by 0.479% from the previous close.
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