American sports technology and investment company has acquired a Canberra-based start-up
Clayton Utz counselled a US-based sports technology and investment company in its first ever acquisition.
Zone 5 Ventures has acquired Today’s Plan, a Canberra-based start-up, which Clayton Utz said operates the world’s leading multi-sport training platform. Financial details of the deal were not disclosed.
The Clayton Utz team was headed by corporate partner Samy Mansour. He was supported by lawyer Anthony Cavallaro (corporate), partner Abraham Ash and senior associate Liam Meagher (workplace relations) and special counsel Crystal Eggleton (real estate).
Mansour said that the sports-technology sector is an exciting space.
Clayton Utz said that Zone 5 will back companies that align with their mission, which is to provide a platform for sports-technology entrepreneurs and researchers to bring their ideas to market. The company has several partnerships, including with a Clayton Utz client that makes bicycles and bicycle components and related products, the firm said.
Clayton Utz also acted in a recent inbound cross-border deal. The firm also recently appointed its first ever national mental health manager.
King & Wood Mallesons acted the sellers.
