Signing Day Sports activities, Inc., recognized for its modern app helping highschool athletes in recruitment, has introduced a pivotal acquisition of 95-99% of Swifty International, a key participant within the sports activities and on line casino applied sciences area. This transfer marks the start of a complete progress technique aimed toward buying and constructing corporations throughout the sports activities and on line casino know-how sectors and different associated fields.
All-equity transaction to amplify capabilities:
The acquisition, structured as an all-equity transaction, will see Signing Day Sports activities issuing its securities to the controlling shareholders of Swifty International, thereby integrating its experience and technological belongings with none money cost. This strategic alignment is ready to boost Signing Day Sports activities’ choices within the digital and bodily sports activities recruitment and on line casino know-how landscapes.
Led by British CEO and seasoned know-how entrepreneur, James Gibbons, Swifty International boasts a scalable, GLI-certified know-how stack with lively gaming licenses throughout a number of jurisdictions together with the UK, Eire, South Africa, and Curacao, with plans to broaden into Malta. Within the fiscal yr ending December 31, 2023, Swifty achieved revenues exceeding $128 million and internet income round $2.44 million, regardless of vital reinvestments in know-how and licensing.
Submit-acquisition, Swifty International is ready to proceed its operations underneath its current administration whereas changing into a key element of Signing Day Sports activities’ portfolio, enhancing its software program choices and accelerating product growth. This acquisition is predicted to leverage Swifty’s in-house growth staff, considerably lowering prices and rushing up the rollout of recent options and platforms.
As Signing Day Sports activities stories through Globe Newswire, Swifty CEO James Gibbons commented, “We’re delighted to have signed a binding time period sheet with Signing Day Sports activities, following months of shut collaboration. The time period sheet establishes the deal framework and valuation. Our staff has labored tirelessly over the previous 4 years to develop and develop the enterprise organically in a worthwhile and money constructive method with no debt and minimal dilution, in a extremely regulated sector, acquiring quite a few licenses and regulatory approvals globally which we consider demonstrates our potential to efficiently execute a dynamic marketing strategy in a number of jurisdictions. After three years of software program growth and tens of millions of {dollars} of funding, the corporate is now completely positioned for fast progress and our acquisition by Signing Day Sports activities gives Swifty the platform to execute its progress plans.”
Administration and strategic outlook:
Following the closure of the transaction, anticipated by October 31, 2024, James Gibbons will take the helm as CEO of each Signing Day Sports activities and Swifty International, steering the expanded operations in the direction of modern market options in sports activities know-how and on line casino gaming. The merger is poised to create a sturdy platform poised for fast progress and market penetration.
This acquisition is projected to put Signing Day Sports activities on the forefront of the sports activities know-how and on-line gaming markets, combining its instructional and recruitment applied sciences with Swifty’s gaming options. The deal not solely diversifies Signing Day Sports activities’ income streams but in addition solidifies its place in a aggressive market, setting the stage for future expansions and technological developments.
The governance construction post-transaction will embrace a balanced board of administrators, adhering to NYSE American laws, guaranteeing a strategic oversight that aligns with trade finest practices and shareholder pursuits. This structured method is designed to foster strong company governance and operational effectivity throughout each entities.
With this strategic acquisition, Signing Day Sports activities isn’t just increasing its technological and market footprint but in addition setting a brand new commonplace within the integration of sports activities recruitment and on line casino gaming applied sciences. This transfer is predicted to catalyze vital progress, drive innovation, and improve shareholder worth within the evolving sports activities and gaming markets.
