SMT Completes Acquisition of Sportvision, Inc.
Acquisition Combines Two Premier Sports Technology and Data Solution Providers and Expands SMT’s Product Offering for Next-Generation Sports Data, Graphics and Tracking Technologies
LOS ANGELES, CA – Vicente Capital Partners (VCP) announced today that its portfolio company, SMT (formerly, “SportsMEDIA Technology Corp.”), a premier provider of sports broadcast, data and live event technology, completed the acquisition of Sportvision, Inc., a leader of digital sports content and broadcast enhancements.
This acquisition brings together two of the most respected sports and entertainment data and graphics companies who in combination have almost 50 years of industry experience. Sportvision is a leading innovator of digital sports content, broadcast enhancements and entertainment products for fans, media companies and marketers, having provided graphical and data services for over 20,000 broadcasts and events. The Sportvision acquisition expands SMT’s technology offering with a product portfolio that includes 70 patents and is best known for its Emmy award-winning Virtual Yellow 1st & Ten line; its MLB pitch and strike-zone tracking system called PITCH/fx; its NASCAR tracking and pointer system; and for providing data insights for player development, analytics, coaching and recruiting. In addition to better serving broadcasters and events, the expanded portfolio uniquely positons SMT to help sports teams and coaches with next-generation sports data and tracking technology, as well as sports fans with unique data and content for mobile.
Sportvision is SMT’s second acquisition since the Company raised growth capital from Vicente Capital in 2010. In 2011, Vicente Capital sourced and helped SMT acquire IDS, a leading provider of live in-stadium, event scoring, statistics and display products to sports organization and high-end sports events such as the U.S. Open, Wimbledon, The Masters and Olympics. In addition, Vicente Capital sourced and tracked Sportvision for over two years prior to helping SMT acquire the Company. VCP also provided additional equity funding for the acquisition of Sportvision, along with Eldridge Industries and Gerard Hall, SMT’s Founder and CEO.
“SMT’s acquisition of Sportvision is a watershed moment for us,” said CEO Gerard J. Hall. “Although we have been marketplace competitors for many years, SMT has always had a tremendous respect for the applied science, the cutting-edge technology, and the creative innovation that runs through the DNA of the Sportvision team. While other companies claim to have had a game-changing impact on how sports are presented, Sportvision enjoys an unparalleled and industrywide reputation for delivering actual game-changing solutions.”
SMT board of directors’ member Kirk Brown will act as SMT’s interim COO with express responsibility for managing the transition and integration process. Kirk was recruited to the SMT board by VCP and has 30-years of combined COO/CEO and accounting experience where, among other achievements, he led successful transition efforts of six acquired companies and the sale of four other companies including a successful transition and exit of a VCP portfolio company.
“We are thrilled about the acquisition of Sportvision by SMT,” said Jay Ferguson, Managing Partner of Vicente Capital Partners and board member of SMT. “The businesses complement each other very well and increase SMT’s advantage in graphics and data analytics for sports broadcasts and events by expanding its product portfolio and capabilities. Since VCP’s initial investment in 2010, SMT’s revenue has grown by 6x and the management team has added significant talent. We expect SMT to continue to create significant value for broadcasters, sporting event organizers and sports fans. We look forward to continuing to support SMT on the next phase of its growth.”