June 21, 2023
An Austin real estate investor makes the case for being bullish on Texas
Taylor: I've found the optimistic investor of Texas — and he just may be right.
June 5, 2025
Melbourne, Australia – June 5, 2025
Catapult Group International Ltd (ASX:CAT, ‘Catapult’ or the ‘Company’), the global leader in sports technology solutions for professional teams, is pleased to announce a strategic acquisition, that further advances its Performance & Health (P&H) vertical as the most comprehensive in sports. This transaction represents a significant step forward in integrating performance data across on-field and off-field environments - unlocking new growth opportunities. The acquisition will be funded through a mix of cash and shares, with no capital raise required.
Catapult has acquired Perch (Catalyft Labs, Inc.), a next-generation leader in athlete monitoring in the gym for elite teams. Born out of the Massachusetts Institute of Technology (MIT), Perch combines advanced computer vision and AI to deliver real-time, automatic tracking of athlete strength training. The Perch system uses a compact 3D camera that mounts to any weight rack in minutes - detecting movements, recording performance, and providing instant feedback. The Perch platform allows trainers to build customized programs, assess readiness, and track progress over time - all while saving teams hours of manual data collection. With precise, reliable data and real-time insights, Perch empowers athletes and coaches to train smarter and achieve better results. With an ACV of approximately $2.5 million, Perch has demonstrated clear product-market fit in the professional sports market.
This acquisition positions Catapult to deliver the most comprehensive and versatile performance tracking solutions in the market.
Commenting on the acquisition, Catapult’s CEO & Managing Director, Will Lopes said: “From our earliest conversations with Perch, it was clear we share a vision to empower the world’s best athletes and teams through cutting-edge technology. By bringing our solutions together, we’re building a smarter, more connected athlete monitoring system - on the field, in the gym, and beyond. The acquisition strengthens our Performance & Health vertical and accelerates our mission to deliver intuitive, end-to-end solutions for professional sports. Importantly, the deal is accretive to our Rule of 40 profile and reflects our disciplined approach to evaluating growth opportunities.”
“We started Perch to give coaches and athletes better tools to understand and improve performance in the weight room - where so much of the hard work happens,” said Jacob Rothman, Perch’s CEO and Co-founder. “Joining Catapult is an exciting next chapter. Together, we’re creating a more complete picture of athlete development by connecting what happens in training with what happens on the field. We’re thrilled to bring this vision to life with a company that shares our passion for innovation and impact.”
With this acquisition, Catapult strengthens its ability to deliver the most comprehensive and diverse athlete training ecosystem - combining cutting-edge camera-based systems with the deepest strength training and athlete readiness analytics in the market. By integrating weight room insights with on-field performance data, Catapult empowers teams to make faster, more informed decisions within a single, seamless platform - all within a seamless user experience, with no need to switch between platforms. The acquisition also accelerates Catapult’s AI capabilities, leveraging computer vision algorithms trained on over 25 million reps from more than 40,000 unique users worldwide.
Catapult acquired Perch on June 4, 2025 for $18 million, with $3 million paid in cash at closing - funded entirely from Catapult’s existing cash reserves. The remainder of the consideration is paid by the issue of fully paid ordinary shares in 4 tranches: $3 million (issued at closing with a 6-month lockup), $3 million (issued at closing with a 12-month lockup), $4.5 million (expected issue in December 2025 with a 12-month lockup), and $4.5million (expected issue in June 2026 with a 12-month lockup). In addition to this purchase price, Perch shareholders will be eligible for an earn-out of up to $10 million in fully paid ordinary shares over the period June 2027 to May 2028, contingent on achieving key ACV growth milestones. The number of ordinary shares issued under the Perch acquisition is calculated using the 30-day VWAP ending prior to May 20, 2025, the date of Catapult’s FY25 financial results. The acquisition completed today on a zero-debt, zero-cash basis.
The acquisition is on terms customary for a transaction of its nature. In the event that any of the shares issued under the acquisition are considered “performance securities” for the purposes of ASX Guidance Note 19, the Catapult Board considers that those shares qualify as “ordinary course of business acquisition securities” for the purposes of that Guidance Note. The Catapult Board has formed this view on the basis that the performance securities convert to ordinary shares at the end of the relevant lockup period, and that they are security against any warranty and indemnity claims under the relevant transaction document.
WEBCAST BRIEFING
A webcast briefing hosted by Mr. Will Lopes, Chief Executive Officer and Managing Director, and Mr. Bob Cruickshank, Chief Financial Officer, will be held at 9.30am (Melbourne time) today. To access the briefing, participants will need to pre-register at the webcast link below. The briefing will be accessible using the same link from 9.15am (Melbourne time) today.
Webcast briefing link: webcast.openbriefing.com/cat-mu-2025/
A replay of the briefing will be made available on the Catapult website at catapult.com/investor.