PlaySight Interactive Ltd., an Israeli sports-tech company, has been acquired by the American sports company Slinger for $82 million in stock. PlaySight Interactive Ltd offers sports video technology, data capture, high performance analytics and automated video production.
Under the terms of the deal, Slinger will acquire 100 percent of the issued and outstanding shares of PlaySight in exchange for 28,333,333 shares of Slinger’s common stock plus additional contingent (earnout) considerations. The transaction is valued at an estimated $82,000,000 based on the Slinger’s previous market close.
Dechert, LLP and Naschitz, Brandes, Amir & Co. are serving as advisors to Slinger. Sullivan & Triggs, LLP, Shiffer, Schneider and Co., and MJ Hudson are serving as advisors to PlaySight.
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Cybersecurity and fintech, of course! Aggrotech and medtech coming out of Startup Nation is expected too. But a successful Israeli sports company? Yes they do exist.
Selected twice by Fast Company as one of the Most Innovative Companies in Sports, PlaySight first launched its proprietary SmartCourt™ platform in tennis, its flagship sport. Today, hundreds of thousands of athletes, coaches and fans use PlaySight each day across all major sports, from leading tennis federations, academies, colleges and multi-sport destination venues to NBA Champions and professional sports clubs and leagues.
Since inception, PlaySight has attracted investment from industry leaders including Billie Jean King, Novak Djokovic, Chris Evert, Pete Sampras and PlaySight Ambassadors Darren Cahill, Ana Ivanovic, Tommy Haas, and Paul Annacone. Other notable investors include Verizon Ventures, Greg Norman’s Great White Shark Opportunity Fund, Unbound Ventures, SoftBank Ventures Asia, NAVER, OurCrowd, and Tennis Partners, the former owners of the Indian Wells/BNP Paribas Masters Series.
“When I first founded PlaySight with my partner and our CTO Evgeni Khazanov, we had big plans to bring AI video technology to all levels of tennis and ball sports. It has been an amazing journey with a great team, and I believe that Slinger is the right company to take our technology platform to new heights in tennis and our other key sports,” said PlaySight Interactive Co-Founder and CEO, Chen Shachar. “We share many commonalities from the launch in tennis to the focus on consumer and sports connectivity. Mike and his team have very bold aspirations to build a leading global brand powered by AI technology, and we are thrilled to join their team and add our capabilities and experience. I believe Slinger is very well positioned to further commercialize PlaySight’s technology and drive even more meaningful value for athletes, coaches, teams, fans and the entire sports market.”
We are excited to announce our acquisition of @PlaySight, supporting our evolution into a leading global connected sports company.
— Slinger Bag (@SlingerBag) October 12, 2021
Slinger is a sports company focused on delivering innovative, game improvement technologies and equipment across tennis and other ball sports. Slinger was first focused on building its brand within the global tennis market, through its Slinger Bag Tennis Ball Launcher and Accessories. Slinger has over $250 million of retail value in global distribution agreements since the Spring of 2020 for the Slinger Bag.