One of the biggest movers on the market yesterday was the Catapult Group International Ltd (ASX: CAT) share price.
Following the release of a positive update late in the trading day, the sports analytics company's shares rocketed higher to finish the day with a gain of almost 11%.
That announcement revealed that Catapult has been approved as a vendor for GPS-based wearables for in-game use by the Major League Baseball in 2017.
The approval means that its technology can be used by both Major League and Minor League Baseball competition participants, which include approximately 274 teams and over 7,000 players.
Catapult's CEO Shaun Holthouse believes this is a step towards the full adoption of its wearable technology for both training and in-game uses by one of the largest professional leagues in the world.
Does this make it a buy?
I think yesterday's announcement is yet another positive for this fast-growing technology company.
In my opinion the sports analytics company has a bright future not just from its wearables, but also from the monetisation of its data.
I have been very impressed with the early progress it has made with this and expect further developments this year.
Although its shares are by no means cheap, I feel its explosive growth prospects could make it a great long-term buy and hold investment alongside fellow tech shares Aconex Ltd (ASX: ACX) and Altium Limited (ASX: ALU).
