December 16, 2019
[Please note, since this release was issued Atrium Sports and Synergy Sports Technology have since merged into a combined business called Synergy Sports]
Industry leaders join forces to accelerate the development and use of Artificial Intelligence in sports
NEW YORK (December 16, 2019) – Atrium Sports (“Atrium”), a full-service technology platform for sports and video data content, today announced the acquisition of Synergy Sports Technology (“Synergy Sports”), the dominant global provider of data and video analytics tools for the NBA, the MLB and NCAA Division I-II-III basketball and Division I baseball. This acquisition will accelerate Atrium’s expansion strategy and strengthen its end-to-end technology solution offering globally.
The acquisition was completed with a lead investment from Eldridge Industries and additional investment from Elysian Park Ventures, Atrium executives and other Atrium and Synergy Sports shareholders. Synergy Sports provides teams with the analytics and tools that power scouting, player development and entertainment monetization. Within the past year, Synergy Sports has captured, tagged and analyzed over 60,000 basketball games and 15,000 baseball games. In addition, there are emerging opportunities in hockey and soccer. By integrating Synergy Sports’ content into Atrium’s platform, teams, leagues and federations will gain greater access to comprehensive data and advanced automated video production of live sporting events and more.
This acquisition marks another significant step in Atrium’s growth, following a recent announcement of a landmark partnership with FIBA, the world governing body for basketball, which brings together 213 National Basketball Federations, to launch the FIBA Connected Stadium rollout.
“Synergy Sports is relied on by virtually every elite and semi-elite basketball team worldwide, and we’re delighted for them to join the Atrium Sports family. This, coupled with Synergy Sports impressive impact in baseball over recent years, is testament to the fantastic business Garrick Barr, Mark Silver and the whole team at Synergy Sports have built,” said Nick Maywald, Group Chief Executive Officer and Chairman of Atrium Sports Group. “Combining their technology with our autonomous video production creates exciting opportunities to simplify workflow for coaches and analysts and accelerates the development of how AI can benefit sports.”
“Having proven our true value in the basketball industry, we’re now excited to be working closely with other sports, like baseball and hockey, alongside a partner that shares our passion to develop sport through innovation in technology,” said Mark Silver, Chief Executive Officer of Synergy Sports. “The backing of Eldridge Industries and Elysian Park Ventures is ideally placed to continue to accelerate our growth worldwide.”
“Through Nick and Mark’s strong management, we believe Atrium’s analytical capabilities and competitive advantage have the potential to change the delivery of content in the sports industry,” said Todd Boehly, Co-Founder and CEO of Eldridge Industries.
Inner Circle Sports LLC, a boutique investment bank focused on the global sports and media industry, served as financial advisor to Synergy Sports.
About Atrium Sports
Atrium Sports empowers teams, leagues, and federations around the world with a full-service technology platform that helps them capture, enhance, and benefit from their sports video and data content. Teams who use Atrium’s platform gain more control of their video and data as well as expanded digital capabilities to create new content, engage fans, and open new commercial opportunities. Backed by US-based sports and entertainment private investment firm, Elysian Park Ventures as well as the Global Sports Venture Studio, the team has a track-record of delivering technology solutions that have helped change the game for sporting bodies. In 2019, Atrium Sports joined forces with Keemotion, the market-leader in automated video production for sports, and recently launched EVO, a cloud-based graphics overlay solution to enhance the live streaming experience for fans.
About Synergy Sports Technology
Founded in 2004, Synergy Sports is the leading global provider of basketball and baseball data, analytics and tools for the majority of elite basketball and baseball teams, including the NBA, MLB, GLeague, WNBA and NCAA DI, DII and DIII men’s and women’s basketball teams, as well as over 200 NCAA DI baseball teams. Synergy Sports cuts and tags all game video to create a cloud-based video database that allows coaches and other team personnel to review reports, charts and visuals for any player, team or game globally. All Synergy Sports data is linked to corresponding video, enabling users to efficiently scout opponents, potential draft picks and their own players for purposes of player development.
About Eldridge Industries
Eldridge Industries grows diversified businesses with a focus on Credit and Credit/Real Estate Hybrid; Insurance and Insurance Tech; Real Estate; Sports and Media; Convenient Food; and Technology. In particular, the firm seeks to build and grow businesses led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Eldridge is headquartered in Greenwich, Connecticut, with additional offices in Beverly Hills, New York, and London. To learn more about Eldridge please visit www.eldridge.com.
About Elysian Park Ventures
Elysian Park Ventures is a private investment firm created by the ownership group of the Los Angeles Dodgers that partners with exceptional entrepreneurs operating at the intersection of sports, technology, and entertainment. Based in Los Angeles and New York, Elysian Park invests across stages from seed to growth, and also provides entrepreneurs with strategic, operational, and management resources through the Global Sports Venture Studio. Learn more at www.elysianpark.ventures.