Synergy Sports Technology, an analytics and video firm backed by billionaire Mark Cuban, was sold to Atrium Sports, a technology firm that counts members of the Los Angeles Dodgers’ ownership group among its key investors, the two companies announced on Monday.
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Cuban is a key investor in Synergy, a company that automatically scans video from professional sports games for data insights that can be used to boost scouting and training efforts. The firm’s clients include teams in the NBA, MLB and NCAA.
Atrium acquired the analytics firm through investments from several Dodgers owners, including Todd Boehly, Mark Walter and Magic Johnson, according to a press release. Atrium said it would integrate Synergy into its own analytics services platform to provide clients with “greater access to comprehensive data and advanced automated video production of live sporting events and more.”
“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 Synergy Sports CEO Mark Silver said in a statement.
The deal’s financial terms were not disclosed. However, Bloomberg, which first reported the transaction, said the total acquisition price as roughly $90 million. It’s unclear how much Cuban, who was Synergy’s biggest investor, netted in the transaction.
Synergy works with all 30 NBA franchises, every WNBA team and several sports media properties, including ESPN, according to its website. The firm has tracked data from more than 60,000 basketball games in the last year alone.
“We believe Atrium’s analytical capabilities and competitive advantage have the potential to change the delivery of content in the sports industry,” said Boehly, who serves as co-founder and CEO of Eldridge Industries, which lead investment in the deal.