Lottery.com Finalizes Agreement Terms for S&MI Ltd Acquisition
Lottery.com (Nasdaq: LTRY) has finalized terms for the acquisition of S&MI , the company behind Sports.com. The deal, set to complete on September 1, 2024, will be satisfied with Lottery.com equity at $3.00 per share. This acquisition aims to enhance Sports.com's long-term value and growth opportunities, particularly in the Middle East and North Africa.
Post-acquisition, S&MI will be renamed Sports.com Media , with Marc Bircham joining the board, bringing his extensive soccer experience. The company also highlighted a partnership between S&MI and Clickshakers, which has launched in Singapore and is expanding to the UK and France. This move is expected to strengthen Sports.com's global profile and market position in digital sports entertainment.
Lottery.com (Nasdaq: LTRY) ha finalizzato i termini per l'acquisizione di S&MI, l'azienda dietro Sports.com. L'affare, previsto per il completamento il 1 settembre 2024, sarà realizzato tramite equity di Lottery.com a $3,00 per azione. Questa acquisizione ha l'obiettivo di potenziare il valore e le opportunità di crescita a lungo termine di Sports.com, in particolare nel Medio Oriente e in Nord Africa.
Dopo l'acquisizione, S&MI sarà rinominata Sports.com Media, con Marc Bircham che entrerà nel consiglio di amministrazione, portando la sua vasta esperienza nel calcio. L'azienda ha anche sottolineato una partnership tra S&MI e Clickshakers, che è stata lanciata a Singapore ed è in espansione nel Regno Unito e in Francia. Questa mossa dovrebbe rafforzare il profilo globale e la posizione di mercato di Sports.com nell'intrattenimento sportivo digitale.
Lottery.com (Nasdaq: LTRY) ha finalizado los términos de la adquisición de S&MI, la empresa detrás de Sports.com. El acuerdo, que se completará el 1 de septiembre de 2024, se realizará con acciones de Lottery.com a $3.00 por acción. Esta adquisición tiene como objetivo mejorar el valor a largo plazo y las oportunidades de crecimiento de Sports.com, especialmente en el Medio Oriente y el norte de África.
Después de la adquisición, S&MI será renombrada como Sports.com Media, con Marc Bircham uniéndose a la junta, aportando su amplia experiencia en el fútbol. La compañía también destacó una asociación entre S&MI y Clickshakers, que se ha lanzado en Singapur y se está expandiendo al Reino Unido y Francia. Este movimiento se espera que fortalezca el perfil global y la posición de mercado de Sports.com en el entretenimiento deportivo digital.
Lottery.com (Nasdaq: LTRY)는 S&MI 인수 조건을 확정했습니다, Sports.com 뒤의 회사입니다. 이 거래는 2024년 9월 1일에 완료될 예정이며, Lottery.com의 주식으로 주당 $3.00로 이루어질 것입니다. 이 인수의 목표는 Sports.com의 장기 가치 및 성장 기회를 향상시키는 것, 특히 중동 및 북아프리카에서입니다.
인수 후, S&MI는 Sports.com Media로 이름이 변경되며, Marc Bircham이 이사회에 합류합니다, 그의 풍부한 축구 경험을 가지고 있습니다. 이 회사는 또한 S&MI와 Clickshakers 간의 파트너십을 강조했으며, 이는 싱가포르에서 시작되어 영국과 프랑스로 확장되고 있습니다. 이 움직임은 Sports.com의 글로벌 프로필과 시장 위치를 강화할 것으로 기대됩니다 디지털 스포츠 엔터테인먼트 분야에서.
Lottery.com (Nasdaq: LTRY) a finalisé les termes de l'acquisition de S&MI, la société derrière Sports.com. L'accord, qui devrait être finalisé le 1er septembre 2024, sera réalisé par des actions de Lottery.com à 3,00 $ par action. Cette acquisition vise à améliorer la valeur à long terme et les opportunités de croissance de Sports.com, en particulier au Moyen-Orient et en Afrique du Nord.
Après l'acquisition, S&MI sera rebaptisée Sports.com Media, avec Marc Bircham rejoignant le conseil d'administration, apportant sa vaste expérience du football. La société a également souligné un partenariat entre S&MI et Clickshakers, qui a été lancé à Singapour et s'étend désormais au Royaume-Uni et à la France. Ce mouvement devrait renforcer le profil mondial et la position de marché de Sports.com dans le domaine du divertissement sportif numérique.
Lottery.com (Nasdaq: LTRY) hat die Bedingungen für den Erwerb von S&MI festgelegt, dem Unternehmen hinter Sports.com. Der Deal, der am 1. September 2024 abgeschlossen werden soll, erfolgt durch Eigenkapital von Lottery.com zum Preis von 3,00 $ pro Aktie. Diese Akquisition zielt darauf ab, den langfristigen Wert und die Wachstumschancen von Sports.com zu steigern, insbesondere im Nahen Osten und Nordafrika.
Nach der Akquisition wird S&MI in Sports.com Media umbenannt, und Marc Bircham wird in den Vorstand eintreten, um seine umfassende Fußballerfahrung einzubringen. Das Unternehmen hob auch eine Partnerschaft zwischen S&MI und Clickshakers hervor, die in Singapur gestartet wurde und sich nun auf das Vereinigte Königreich und Frankreich ausdehnt. Diese Initiative wird voraussichtlich das globale Profil und die Marktposition von Sports.com im Bereich digitale Sportunterhaltung stärken.
- Acquisition of S&MI enhances Sports.com's long-term value and growth opportunities
- Expansion into key markets including Middle East and North Africa
- Addition of Marc Bircham to the board brings valuable sports industry expertise
- Partnership with Clickshakers expands global reach, including launches in Singapore, UK, and France
- Acquisition to be satisfied with equity, potentially diluting existing shareholders
Insights
The acquisition of S&MI by Lottery.com is a strategic move that could significantly impact the company's future. The all-stock deal, priced at
The partnership with Clickshakers and expansion into Singapore, UK and France markets through telecom partnerships indicate a robust growth strategy. However, investors should note that the financial terms and projected revenue impact are not disclosed, making it challenging to quantify the immediate financial benefits. The success of this acquisition will largely depend on effective integration and market penetration in new regions.
The appointment of Marc Bircham to S&MI's board brings valuable industry expertise to Lottery.com's newest subsidiary. Bircham's experience in football operations could prove important in developing Sports.com's content and engagement strategies. The involvement of Majed Al Sorour, with his background in Golf Saudi, LIV Golf and Newcastle United, adds further credibility to Sports.com's ambitions in the sports entertainment sector.
The focus on motorsports, sim racing and football indicates a diversified content strategy. This multi-sport approach could help Sports.com capture a wider audience and compete effectively in the crowded digital sports entertainment space. However, success will depend on the quality of content and the ability to differentiate from established players in these verticals.
The acquisition of S&MI provides Lottery.com with a technological edge through the Sports.com brand and app. This move aligns with the growing trend of traditional gaming companies expanding into digital sports entertainment. The integration of S&MI's platform could accelerate Lottery.com's digital transformation and enhance its competitive position in the online lottery and sports content markets.
The partnership with Clickshakers and the expansion into multiple countries through telecom partnerships demonstrate a scalable distribution strategy. This approach could lead to rapid user acquisition and market penetration. However, investors should monitor the execution of these partnerships and the associated costs, as successful scaling in multiple markets simultaneously can be challenging and capital-intensive.
LONDON, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Lottery.com Inc. (Nasdaq: LTRY, LTRYW) (“Lottery.com” or the “Company”), a leading online lottery services provider, is pleased announce it has finalized terms for the acquisition of S&MI Ltd. (“S&MI”), the innovative technology company behind the current Sports.com brand and app. The total acquisition price is to be satisfied with equity of common stock in Lottery.com priced at
The acquisition of S&MI significantly enhances the long-term value of the Sports.com brand, unlocking substantial growth opportunities in key target markets, including the Middle East and North Africa. This acquisition will further strengthen Sports.com's global profile and future prospects, solidifying its position as a leading force in the industry.
The acquisition is scheduled for completion on September 1, 2024. Following the successful completion of the acquisition, S&MI Ltd will be renamed Sports.com Media Ltd. At that time, Lottery.com intends to appoint Marc Bircham to the board of directors of S&MI, bringing his extensive experience in football and sports management to Lottery.com’s newest subsidiary.
Marc is a respected figure in the world of soccer in the UK, Canada and the USA, known for both his playing career and his managerial roles. Bircham started his professional career at Millwall FC before moving to Queens Park Rangers FC (QPR), where he became a fan favourite. After hanging up his boots, Bircham transitioned into coaching and management, taking on roles at QPR, Chicago Fire, and Millwall, among others. His deep understanding of the game and his experience in football operations make him an invaluable addition to the Sports.com Media Ltd leadership team.
Clickshakers Partnership
S&MI continues to expand its global reach. Recently, S&MI entered into a partnership with Clickshakers, which recently launched in Singapore with the leading telecommunications company, Singtel. Sports.com will be the beneficiary of that partnership post-completion of the acquisition. Additionally, Clickshakers’ white-labeled service is in the final stages of approval to launch in the UK, partnering with leading telcos to cover the full network nationally. Expansion plans also include France, where the service is set to launch with Orange, SFR, and Bouygues Telecom, further broadening its platform and content offerings.
Majed Al Sorour, President of Sports.com and formerly CEO of Golf Saudi, Managing Director of LIV Golf, and Board Member & Director of Newcastle United Football Club, said:
"The acquisition of S&MI Ltd represents a pivotal step in our journey to become a global leader in digital sports entertainment. With S&MI’s cutting-edge platform and app, Sports.com is well positioned to deliver unparalleled experiences to sports fans worldwide. We are particularly excited about the synergies this acquisition brings as we continue to innovate and expand our reach into new markets. The addition of Marc Bircham to our board underscores our commitment to bringing in top-tier talent to drive our vision."
Matthew McGahan, Chairman and CEO of Lottery.com and Sports.com, added:
"The acquisition of S&MI Ltd is an excellent fit for the Sports.com brand. It enables Sports.com to leverage S&MI's advanced platform and app, which will accelerate our growth and enhance our offerings. We look forward to appointing Marc Bircham to the board of S&MI upon completion of the acquisition. Marc’s deep expertise in football and his passion for sports will be invaluable as we expand the Sports.com platform and solidify our position as a leader in digital sports entertainment. Sports.com has enormous potential, and the team is focused on expanding our reach and acquiring top-tier content. The Clickshakers deal is a prime example of our commitment to this strategy."
Marc Bircham, Director at Sports.com, said:
"The acquisition will mark the beginning of an exciting new era in sports entertainment. Our targeted initiatives in motorsports, sim racing, and football will deliver content that not only captivates but also sets new standards in fan engagement. We’re not just transforming the way fans watch sports; we’re elevating the entire experience to a new level of immersion and interaction."
Important Notice Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements, other than statements of present or historical fact included in this press release, regarding the company’s future financial performance, as well as the company’s strategy, future operations, revenue guidance, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this press release, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Lottery.com disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Lottery.com cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Lottery.com. In addition, Lottery.com cautions you that the forward-looking statements contained in this press release are subject to the following factors: (i) the outcome of any legal proceedings that may be instituted against Lottery.com; (ii) Lottery.com’s ability to maintain effective internal controls over financial reporting, including the remediation of identified material weaknesses in internal control over financial reporting relating to segregation of duties with respect to, and access controls to, its financial record keeping system, and Lottery.com’s accounting staffing levels; (iii) the effects of competition on Lottery.com’s future business; (iv) risks related to Lottery.com’s dependence on its intellectual property and the risk that Lottery.com’s technology could have undetected defects or errors; (v) changes in applicable laws or regulations; (vi) risks related to the COVID-19 pandemic and its effect directly on Lottery.com and the economy generally; (vii) risks relating to privacy and data protection laws, privacy or data breaches, or the loss of data; (viii) the possibility that Lottery.com may be adversely affected by other economic, business, and/or competitive factors; (ix) the ability of Lottery.com to achieve its strategic and growth objectives as stated or at all; and (x) those factors discussed in the proxy statement/prospectus filed by Lottery.com with the SEC under the heading “Risk Factors” and the other documents filed, or to be filed, by Lottery.com with the SEC. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that Lottery.com has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC’s website at www.sec.gov.
FAQ
When is Lottery.com (LTRY) expected to complete the acquisition of S&MI ?
What is the acquisition price for S&MI by Lottery.com (LTRY)?
Who will be appointed to the board of S&MI following the acquisition by Lottery.com (LTRY)?
What markets is Lottery.com (LTRY) targeting with the Sports.com acquisition?
