IFL Ventures advised Australia-based sports tech company Fusion Sport on its sale of Smartspeed to Vald.
28.10.2021InterFinancial Corporate Finance Limited would like to congratulate Fusion Sport on the successful sale of Smartspeed to Vald, an Australia-based company specializing in the development of human measurement technologies and products.
Fusion Sport (“Fusion”) was founded in 2003 and is led by founder Dr Markus Deutsch and backed by Equity Venture Partners and TechnologyOne’s Adrian Di Marco. In that same year, Fusion launched its flagship product, Smartspeed, a measurement device for tracking the speed and agility of elite athletes. In 2011, Fusion expanded its product range with the launch of the Smartabase human performance platform. Smartabase is designed to provide elite human performance organizations with a one stop shop solution for the holistic performance management of their teams. In early 2021, Fusion made the strategic decision to focus its corporate resources on the continual development and market expansion of Smartabase and divest Smartspeed.
Vald is an Australia-based company specializing in the development of human measurement technologies and products. The company was established by its co-founders Laurie Malone and Sam James in 2015, born out of a research and design collaboration at the Queensland University of Technology. Vald is backed by Ellerston Capital, Regal Funds and Perennial Value.
Both headquartered in Brisbane and operating in the sports tech sector, Fusion and Vald achieved a win-win outcome through the transaction. The sale will enable Fusion to focus solely on its software business Smartabase and the acquisition will enable Vald to expand its existing product offerings and fulfilling its vision. Vald is an ideal and natural new home for Fusion’s legacy product Smartspeed. IFL Ventures advised Fusion Sport throughout the process, from preparing the information memorandum, marketing Smartspeed to a select group of international and domestic investors, managing the due diligence process, to assisting with negotiating the commercial aspects of the contracts and final completion.
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