Thu, 02 Sep 2010 | BUSINESS SALE
Ball-tracker creator Hawk-Eye Innovations has been put up for sale, as the owners strive to attract a larger company to fuel its expansion.
The sale process is to commence next week for the firm, which is thought likely to sell for between £15 million and £20 million.
Frequently used at Wimbledon and other major tennis and cricket events, the technology tracks the path of the ball, then predicts its most statistically likely path.
Hawk-Eye’s owners, who include Mark Getty, son of philanthropist Sir Paul Getty, hope the sale will whet the appetite of broadcasters and sports rights firms, and of Fifa in particular, which is presently exploring the idea of goal-line detection technology to prevent any controversies.
Shareholder Patrick Maxwell said: “Potentially, it could also be a vehicle for sponsorship for the likes of financial service companies.” He hopes that Fifa decide to use the system.
Managing director and creator Paul Hawkins said: “If I was a potential buyer I would make an early strike. There’s a strong possibility that something will begin to change in the football world. That would have a big impact.”
Hawk-eye reported revenues of £3.6 million and a pre-tax profit of £1.1 million for the year ending September 2009.
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