Mer Telemanagement Solutions Announces Shareholder Approval of the Merger with SharpLink and Related Transactions

Rhea-AI Summary

Mer Telemanagement Solutions Ltd. (MTSL) announced that shareholders overwhelmingly approved the merger with SharpLink, Inc. on July 21, 2021, with approximately 99% of votes in favor. SharpLink specializes in innovative sports betting technologies, aiming to enhance engagement for sports leagues and media companies. The merger positions MTSL to tap into the rapidly growing U.S. online sports betting market, leveraging SharpLink's expertise and technology. The transaction is expected to close following finalized regulatory conditions and Nasdaq listing approvals.

Positive

• Shareholder approval of the merger with SharpLink received about 99% of votes.
• The merger is expected to provide significant value by expanding MTSL's presence in the U.S. online sports betting industry.
• SharpLink's innovative technology could enhance revenue streams and customer engagement.

Negative

• Risks associated with fulfilling conditions for the merger closing.
• Dependence on achieving profitable operations post-merger.

RA'ANANA, ISRAEL, July 22, 2021 /PRNewswire/ -- Mer Telemanagement Solutions Ltd. (Nasdaq: MTSL) ("MTS" or the "Company") today announced that its shareholders voted to approve all of the resolutions included on the agenda of the extraordinary meeting of MTS's shareholders, held on July 21, 2021, including the proposed merger with SharpLink, Inc. ("SharpLink"), the appointment of a new board of directors for the post-merger company, and other matters related to the merger. U.S.-based SharpLink is pioneering innovative sports betting conversion and engagement technologies that enable sports leagues, fantasy sports sites, and sports media companies to connect fans to relevant and timely betting content sourced from SharpLink's sportsbook partners.

The resolutions were approved by an overwhelming majority of MTS shareholders, consisting of approximately 99% of the votes cast at the meeting. The Company expects that the merger will be consummated promptly following the fulfillment or waiver of other outstanding conditions to closing, including the receipt of listing approval for the combined entity from The Nasdaq Stock Market.

"We are pleased with the very strong vote of confidence by our shareholders for the transaction with SharpLink. We believe this merger and new direction for the Company has the potential to provide significant value for our shareholders as we rapidly expand our business in the U.S. online sports betting industry. The SharpLink team, led by industry veterans with proven track records of success, has built a pioneering company in this sector that we believe will thrive following access to the public capital markets.  We look forward to closing this transaction in the very near term," stated Roy Hess, MTS CEO.

About SharpLink

Founded in 2019 and based in Minneapolis, Minnesota, SharpLink is a leading online technology company that connects sports fans, leagues and sports websites to relevant and timely sports betting content. SharpLink uses proprietary, intelligent, online conversion technology to convert sports fans into sports bettors for licensed, online sportsbook operators. SharpLink's intelligent sports betting conversion and engagement technology delivers and determines the best sportsbook betting offers and experience for each identified user. Using sophisticated, AI-enabled behavioral modeling and tracking technologies, and by analyzing user's past and present behaviors, we serve sports fans with personalized betting offers specifically tied to each fan's favorite sports, teams and players. Additionally, SharpLink specializes in helping sports media companies develop strategies, products and innovative solutions to drive deep customer engagement with highly interactive sports games and mobile applications. SharpLink is run by industry veterans with several successful exits in the sports gaming sector.  For more information, please visit the SharpLink website at www.sharplink.com.

About Mer Telemanagement Solutions Ltd.

Mer Telemanagement Solutions Ltd. (MTS) is focused on innovative products and services for enterprises in the area of telecom expense management (TEM), call accounting and contact center software. Headquartered in Israel, MTS markets its solutions through wholly-owned subsidiaries in Israel, the U.S and Hong Kong, as well as through distribution channels. For more information, please visit the MTS web site: www.mtsint.com.

Forward-Looking Statements

Certain matters discussed in this news release are forward-looking statements that involve a number of risks and uncertainties including, but not limited to, the fulfillment or waiver of conditions to closing of the merger with SharpLink, the Company's ability to achieve profitable operations, its ability  to continue to operate as a going concern, its ability to continue to meet NASDAQ continued listing requirements, customer acceptance of new products, the effects of the spread of Coronavirus (COVID-19) and future measures taken by authorities in the countries in which we operate on our operations, the demand for our products and our customers' economic condition, the impact of competitive products and pricing, market acceptance, the lengthy sales cycle, proprietary rights of the Company and its competitors, risk of operations in Israel,  general economic conditions and other risk factors detailed in the Company's annual report and other filings with the United States Securities and Exchange Commission.

CONTACT INFORMATION:

Mer Telecommunications Solutions Ltd.
Ofira Bar, CFO
Tel: +972-9-7777-540
Email: ofira.bar@mtsint.com      

SharpLink, Inc. 
Dodi Handy, Director of Communications
Tel: 407-960-4636
Email: info@sharplink.com

Logo - https://mma.prnewswire.com/media/777768/MTS_Logo.jpg 

 

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SOURCE Mer Telemanagement Solutions Ltd. (MTS)

FAQ

What was the outcome of Mer Telemanagement Solutions Ltd.'s shareholder meeting on July 21, 2021?

Shareholders overwhelmingly approved the merger with SharpLink, with approximately 99% of votes in favor.

What is the strategic importance of the merger between MTSL and SharpLink?

The merger positions MTSL to expand in the U.S. online sports betting market, leveraging SharpLink's innovative technologies.

When is the merger between MTSL and SharpLink expected to close?

The merger is expected to close promptly after fulfilling outstanding conditions and receiving Nasdaq listing approval.

What technology does SharpLink bring to the merger with MTSL?

SharpLink offers advanced sports betting conversion and engagement technologies, enhancing fan connection with betting content.

What risks are associated with the merger of MTSL and SharpLink?

Risks include the fulfillment of merger conditions and the company's ability to achieve profitable operations after the merger.