Looking like a disaster, page-6

Speaking of Adir and Catapult, from mergermarket.com this morning….

Catapult Sports plans 2014 capital raise for global acquisitions, IPO an option

Catapult Sports, a private Australian wearable performance tracking devices company, is looking to complete a fundraising before the end of 2014, with an IPO assessed amongst the options, said Chairman Adir Shiffman.
Funding will be instrumental to accelerate the company’s global expansion strategy, comprising acquisitions of analytics software companies as well as competitors or peers with strong IP, Shiffman said.
Global penetration will be also achieved by investing in marketing and sales, he said, adding that it wishes to receive pitches from advisors in the US and EU who can suggest growth strategies or targets.
Catapult Sports, which has raised some AUD 9.5m (USD 8.9m) to date, the most recent raising of AUD 6m valuing it at AUD 35m, would seek to raise AUD 20m-30m, according to an industry source.
Shiffman declined to confirm the figure, just adding that this was "not far from a realistic figure". He explained that every successive funding round is expected to incrementally grow over the previous one and would be based on a higher company valuation.
Alongside mulling an IPO, Catapult is also talking to VC funds interested in acquiring a stake in the company. In the case of an IPO or venture funding, the company is unlikely to sell a controlling stake, said Shiffman, who has a controlling stake along with the company’s two founders. US technology entrepreneur Mark Cuban, and Chinese VC firm Imprint Partners own minority stakes.
A listing is seen as increasingly favourable in the wake of the 26 June Nasdaq listing of the US sports camera manufacturer GoPro, which raised USD 427m, valuing the company at USD 2.9bn, the industry source said.
Catapult Sports is one step closer to an IPO following its acquisition of wearable athlete tracking provider GPSports, which has given it more scale, making an IPO more feasible, he added.
The GPSports acquisition has enabled Catapult Sports to enter new markets, acquiring clients such as Chelsea Football Club and The Seattle Seahawks NFL team and adding them to a portfolio comprising AC Milan, San Antonio Spurs and Florida State college basketball champions.