Charlotte-based Fastbreak.ai is looking ahead after its recent acquisition of Optimal Planning Solutions, a Vancouver, Canada-based company providing scheduling solutions to the sports industry.
The purchase, announced Sept. 10, bolsters Fastbreak's platform capabilities of providing research and artificial intelligence solutions for sports scheduling. That process is typically one of sports leagues' most complex challenges when considering factors such as venue availability, balancing travel for games, schedule fairness and television viewership.
Financial terms of the deal were not disclosed.
Fastbreak gained four employees from Optimal, growing its team to a total of 19. That number includes Optimal's CEO and President Rick Stone, who now serves as Fastbreak's chief scheduling officer. His responsibilities include integrating Optimal's expertise and data into Fastbreak's sports logistics platform.
"Fastbreak is a leader in the world of professional sports-level scheduling," John Stewart, the company's CEO, told CBJ. "Optimal Planning is the only other company with our level of expertise. And so this is a consolidation of expertise and customers."
Fastbreak's client portfolio pre-acquisition included the National Basketball Association (NBA), National Hockey League (NHL), Southeastern Conference (SEC), the Atlantic 10 conference, the Big East and Major League Pickleball. Optimal has worked with several organizations in Australia, the U.S. and Europe, such as the the National Football League (NFL), Major League Baseball (MLB) and Australian Football League. The companies' customer lists will combine as a result of the acquisition.
"By combining our scheduling technology with Fastbreak.ai's cutting-edge AI sports logistics platform, we're poised to deliver unparalleled value to sports leagues at every level," Stone said in a statement.
Fastbreak's acquisition comes after it closed on a $5.2 million seed round last year. NBA Equity, the corporate venture arm of the NBA, became an investor in the capital raise.
Stewart said Fastbreak, founded in 2022, is now working to develop youth sports products and bring them to market next year.
