Catapult (ASX:CAT) share price charges higher on French Rugby deal

The Catapult Group International Ltd (ASX:CAT) share price is on the move on Tuesday after announcing a deal with the French Rugby league…

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Catapult share price

Source: Catapult

The Catapult Group International Ltd (ASX: CAT) share price is pushing higher in morning trade on Tuesday.

At the time of writing the sports analytics and wearables company’s shares are up over 2% to $1.94.

Why is the Catapult share price charging higher?

Investors have been buying Catapult’s shares after it announced another potentially lucrative deal.

According to the release, the French Ligue Nationale de Rugby (LNR) has appointed Catapult as the preferred supplier of technology to all teams that compete in France’s Top 14 and Pro D2 professional rugby competitions for the next four years.

The company revealed that it was awarded the contract following an extensive due diligence and competitive tender process.

As part of the award, Catapult will support data exchange between any contracted club teams and the France national rugby union team in a seamless two-way data sharing process.

Management notes that Catapult’s proficiency in large-scale, high-security data aggregation and distribution stood out during the tender process. It was also supported by its experienced local support staff, rugby-specific performance metrics (scrum analytics, kick analysis, contact involvement, amongst others), and the company’s rich history with scientific validation.

The LNR commented: “The Ligue Nationale de Rugby and the Fédération Française de Rugby (FFR) are delighted with the choice of Catapult to optimise the monitoring of rugby players with a view to the 2023 World Cup. This choice follows a tender process that began in October 2019.”

Strong presence in rugby.

The company notes that this is the latest federation-wide rugby deal that Capapult has signed following similar deals in Australia, Scotland, and Wales.

Catapult’s Chief Commercial Officer, Matt Bairos, believes its technology and customer obsession are playing a key role in these awards.

He said: “After a lengthy tender process where our technology and people were reviewed comprehensively, it is motivating to know our level of customer obsession was a deciding factor in this award from such a world-class association. We look forward to delivering French rugby constant innovation and assisting them in their long-term strategy for player health and continued global success.”

The Catapult share price is now up 24% year to date.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Catapult Group International Ltd. The Motley Fool Australia has recommended Catapult Group International Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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