Signing Day Sports, Inc., recognized for its revolutionary app aiding highschool athletes in recruitment, has introduced a pivotal acquisition of 95-99% of Swifty Global, a key participant in the sports activities and on line casino applied sciences enviornment. This transfer marks the start of a complete development technique aimed toward buying and constructing corporations throughout the sports activities and on line casino expertise sectors and different associated fields.
All-equity transaction to amplify capabilities:
The acquisition, structured as an all-equity transaction, will see Signing Day Sports issuing its securities to the controlling shareholders of Swifty Global, thereby integrating its experience and technological belongings with none money fee. This strategic alignment is about to reinforce Signing Day Sports’ choices in the digital and bodily sports activities recruitment and on line casino expertise landscapes.
Led by British CEO and seasoned expertise entrepreneur, James Gibbons, Swifty Global boasts a scalable, GLI-certified expertise stack with lively gaming licenses throughout a number of jurisdictions together with the UK, Ireland, South Africa, and Curacao, with plans to develop into Malta. In the fiscal yr ending December 31, 2023, Swifty achieved revenues exceeding $128 million and internet earnings round $2.44 million, regardless of vital reinvestments in expertise and licensing.
Post-acquisition, Swifty Global is about to proceed its operations below its present administration whereas turning into a key element of Signing Day Sports’ portfolio, enhancing its software program choices and accelerating product improvement. This acquisition is predicted to leverage Swifty’s in-house improvement group, considerably lowering prices and rushing up the rollout of new options and platforms.
As Signing Day Sports reports via Globe Newswire, Swifty CEO James Gibbons commented, “We are delighted to have signed a binding term sheet with Signing Day Sports, following months of close collaboration. The term sheet establishes the deal framework and valuation. Our team has worked tirelessly over the past four years to develop and grow the business organically in a profitable and cash positive manner with no debt and minimal dilution, in a highly regulated sector, obtaining numerous licenses and regulatory approvals globally which we believe demonstrates our ability to successfully execute a dynamic business plan in multiple jurisdictions. After three years of software development and millions of dollars of investment, the company is now perfectly positioned for rapid growth and our acquisition by Signing Day Sports provides Swifty the platform to execute its growth plans.”
Management 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 and Swifty Global, steering the expanded operations in direction of revolutionary market options in sports activities expertise and on line casino gaming. The merger is poised to create a strong platform poised for speedy development and market penetration.
This acquisition is projected to put Signing Day Sports on the forefront of the sports activities expertise and on-line gaming markets, combining its academic and recruitment applied sciences with Swifty’s gaming options. The deal not solely diversifies Signing Day Sports’ 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 rules, guaranteeing a strategic oversight that aligns with trade finest practices and shareholder pursuits. This structured strategy is designed to foster sturdy company governance and operational effectivity throughout each entities.
With this strategic acquisition, Signing Day Sports is not only increasing its technological and market footprint but in addition setting a brand new customary in the combination of sports activities recruitment and on line casino gaming applied sciences. This transfer is predicted to catalyze vital development, drive innovation, and improve shareholder worth in the evolving sports activities and gaming markets.