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Highlights

  • Catapult acquires Perch for US$18M, with part paid in cash and remainder in shares.

  • Perch tech uses AI and 3D cameras to track athlete strength training in real time.

  • Earn-out of up to US$10M in shares tied to performance milestones through 2028.

Sports technology company Catapult Group International (ASX:CAT) has announced the acquisition of Perch, a Massachusetts Institute of Technology (MIT) spinout specialising in AI-driven athlete strength monitoring. The deal, valued at US$18 million (A$28 million), was finalised on Wednesday.

Under the agreement, Catapult will pay US$3 million in cash from existing reserves upon closing. The remaining amount will be settled through Catapult shares distributed in four tranches. Additionally, Perch shareholders may receive an earn-out of up to US$10 million in extra shares between June 2027 and May 2028, contingent on the achievement of specific annual contract value (ACV) growth milestones.

The shares to be issued for both the acquisition and the earn-out will be priced based on Catapult’s 30-day volume-weighted average share price prior to the release of its FY2025 financial results.

Founded in 2016, Perch has built a reputation for integrating 3D camera systems with computer vision and artificial intelligence to deliver real-time insights into athlete strength training. The platform currently supports approximately US$2.5 million in annual contract value and has trained its algorithms using data from over 40,000 individual users.

The Perch system is designed to streamline the collection of strength and performance data by automating feedback — a solution that replaces time-consuming manual tracking. 

Commenting on the acquisition, Catapult CEO and Managing Director Will Lopes said the integration of the two platforms marks a significant step in expanding the company's offerings.

“By bringing our solutions together, we’re building a smarter, more connected athlete monitoring system — on the field, in the gym and beyond,” Lopes stated.