Treasure Global Inc Acquires an Innovative Sports Engagement & Gaming Platform
Treasure Global Inc (NASDAQ: TGL) announced its plan to acquire 100% shareholding of Who Knows Wins (WKW), a UK-based innovative online sports engagement platform. The acquisition aligns with Treasure Global's strategic vision to leverage technology for revenue growth and expansion in the US market. WKW operates a robust proprietary platform with features like real-time sports data feeds, social integration, and anti-money laundering measures, catering to 65,000 users. The acquisition will enhance Treasure Global's offerings, drive multiple revenue streams, and position WKW as a key player in the sports engagement industry. WKW's partnership with GolfNow , a subsidiary of NBC, further strengthens its market position. The global sports technology market is projected to grow at a CAGR of 20.8% from 2023 to 2030, driven by increasing demand for interactive fan experiences.
- Treasure Global acquires 100% shareholding of WKW, a proven innovative sports engagement platform.
- The acquisition aligns with Treasure Global's strategic vision for revenue growth and US market expansion.
- WKW has a unique proprietary platform with advanced features like real-time scores, social integration, and AML measures.
- WKW caters to 65,000 registered users, offering multiple revenue streams and deep audience insights.
- Partnership with GolfNow , a subsidiary of NBC, enhances market positioning and service offerings.
- None.
Insights
Treasure Global Inc.’s acquisition of Who Knows Wins Ltd. significantly impacts their strategic trajectory and financial outlook. This acquisition aligns with their strategy of leveraging innovative technologies to drive revenue growth and expand into the lucrative US market. The integration of a proven proprietary technology platform with a complex ecosystem of game logic and APIs offers Treasure Global a competitive edge in the sports engagement and gaming industries.
The acquisition brings immediate market expansion benefits, tapping into the US market, which is a substantial move given the high growth potential. According to the Grand View Research report, the global sports technology market is projected to grow at a
In the short term, investors can expect integration costs and potential initial losses as the company aligns WKW's operations with Treasure Global’s existing business. However, in the long term, the acquisition is likely to boost revenue streams and enhance market presence, particularly with WKW's established user base of over 65,000 registered users and partnerships, such as with GolfNow LLC and NBC.
Investors should closely monitor integration progress and any subsequent acquisition activities hinted at by the company's CEO, Carlson Thow, to assess the unfolding impact on financials and market positioning.
The acquisition of Who Knows Wins Ltd. by Treasure Global Inc. is a strategic move to penetrate the US market and leverage an innovative sports engagement platform. WKW's platform includes advanced features like real-time scores, integration with social platforms and anti-money laundering measures, which cater to the growing demand for interactive and personalized fan experiences.
WKW's model of engaging users through customizable leagues and competitions not only enhances user interaction but also serves as an effective tool for first-party data collection. This aspect is important as it allows Treasure Global to gain deep audience insights, which can be monetized through targeted marketing and partnerships.
The partnership with GolfNow, a subsidiary of a major media corporation, provides a solid validation of WKW's platform capabilities and opens up new revenue streams. WKW's white-label service within the GolfNow Compete App showcases the platform's flexibility and potential for further partnerships in the sports tech industry.
For retail investors, it's essential to understand that such acquisitions are part of a broader strategy to capitalize on emerging trends in sports technology. The low cost per action (CPA) and high engagement rates of WKW's platform indicate a promising revenue model that could drive sustainable growth for Treasure Global.
Investors should keep an eye on the platform's user growth, new partnerships and the overall performance of the sports tech market to gauge the long-term success of this acquisition.
Who Knows Wins Ltd. brings a highly sophisticated and innovative technology platform to Treasure Global Inc. At the core is their proprietary 'Game Engine,' which uses a rich ecosystem of game logic and APIs. The platform's ability to offer real-time scores, robust gameplay logic and anti-money laundering measures suggests a well-rounded technological backbone designed to meet modern requirements in sports engagement and gaming.
This acquisition positions Treasure Global to leverage WKW’s technology stack to enhance its offerings and strengthen its market position. The integration with social platforms and third-party payment systems aligns with current trends in digital experiences, where seamless interaction and transaction capabilities are key.
From a technical standpoint, the platform's ability to provide live-action reporting and settlement functionalities is indicative of a mature solution that's ready for broader applications. The upcoming integration with GolfNow LLC as part of a white-label service further exemplifies the scalability and adaptability of WKW’s technology.
Retail investors should understand that such technological integrations can lead to significant enhancements in user experience and operational efficiency. The technical robustness of WKW’s platform provides a solid foundation for Treasure Global to innovate and potentially lead in the sports engagement sector.
However, the success of this integration will also depend on Treasure Global’s ability to effectively manage the technological assimilation and drive user adoption in the new target markets.
NEW YORK and KUALA LUMPUR, Malaysia, July 08, 2024 (GLOBE NEWSWIRE) -- Treasure Global Inc (NASDAQ: TGL) (“Treasure Global” or the “Company”), a leading technology solutions provider, announces its plan to acquire
The acquisition of WKW aligns with the Company’s strategic vision of leveraging innovative technologies to drive revenue growth, expand in the USA, and further explore opportunities to position WKW as a key player in the sports engagement and gaming industries. WKW has built a unique, proven, and robust proprietary technology platform. Their operating system uses a complex ecosystem of game logic and APIs to create a proprietary 'Game Engine' that drives the app. Key features of this platform include real-time scores via a live sports data feed, integration with social platforms, settlement, notifications, and live-action reporting, complex gameplay logic and market setup, anti-money laundering (AML) measures, and third-party payment integration. By integrating WKW's platform, the Company aims to enhance its feature to provide clients with advanced tools and strengthen its position as a leader in the gaming technology space.
Who Knows Wins offers a fully customizable sports engagement platform for media, brands, and teams, with over 65,000 registered users. It enables users to engage with fans, understand their preferences, and drive revenue. WKW is a social sports game where friends, family, and colleagues compete in using their knowledge, skill and luck in predicting results and compete in virtually any sporting event. Users can play in custom leagues or join existing competitions, with live updates and chat features enhancing interaction. The platform is an effective first-party data collection tool, offering deep audience insights and a low cost per action (CPA). By converting passive fans into active users, WKW opens up multiple revenue streams and ensures sustained growth.
WKW strategically partners with GolfNow LLC (“GolfNow”), a leading golf technology company and a subsidiary of NBC, a leading global media corporation and telecommunications company in the US. GolfNow has launched a dedicated stat tracking, social, and competitive golf app branded as “GolfNow Compete”. WKW will provide a white-label site service embedded within the GolfNow Compete App, along with the development of additional functionality. The services will include GolfNow Sponsored Leagues, which WKW may make available and accessible to WKW players via the WKW site and to golfers via the GolfNow Compete App.
The sports technology industry is undergoing rapid evolution, driven by the rising demand for interactive and personalized fan experiences. According to Grand View Research, the global sports technology market is projected to grow at a compound annual growth rate (CAGR) of
“I believe the potential this acquisition will bring complements our Company’s road map. With our strengths and capabilities, we can leverage WKW’s innovative platform, which has a proven track record of success in engaging users and driving revenue. We look forward to unlocking the potential of this acquisition to deliver exceptional value to our stakeholders and clients,” said Carlson Thow, CEO of Treasure Global Inc.
“My management team and I are consistently exploring additional accretive acquisition opportunities,” he said.
About Treasure Global Inc:
Treasure Global is a leading Malaysian solutions provider developing innovative technology platforms. Treasure Global has developed two technology solutions: the ZCITY App, a unique digital ecosystem that transforms and simplifies the e-payment experience for consumers, while simultaneously allowing them to earn rewards; and TAZTE, a digital food and beverage management system providing merchants with a one-stop management and automated solution to digitalize their businesses. Treasure Global also acts as a master franchiser in Southeast Asia for popular restaurant chains, while providing them with the TAZTE solution. As of May 5, 2024, ZCITY App boasts over 2,699,216 registered users.
For more information, please visit https://treasureglobal.co.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of Coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company’s products and the Company’s customers’ economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company’s filings with the United States Securities and Exchange Commission (SEC). The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.
For further information, please contact:
Investor and Media Contact
ir_us@treasuregroup.co
FAQ
What is Treasure Global's acquisition plan announced on July 08, 2024?
What strategic benefits does Treasure Global expect from acquiring Who Knows Wins?
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What unique features does Who Knows Wins' platform offer?
