Signing Day Sports, Inc., known for its innovative app assisting high school athletes in recruitment, has announced a pivotal acquisition of 95-99% of Swifty Global, a key player in the sports and casino technologies arena. This move marks the beginning of a comprehensive growth strategy aimed at acquiring and building companies within the sports and casino technology sectors and other related 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 expertise and technological assets without any cash payment. This strategic alignment is set to enhance Signing Day Sports’ offerings in the digital and physical sports recruitment and casino technology landscapes.
Led by British CEO and seasoned technology entrepreneur, James Gibbons, Swifty Global boasts a scalable, GLI-certified technology stack with active gaming licenses across multiple jurisdictions including the UK, Ireland, South Africa, and Curacao, with plans to expand into Malta. In the fiscal year ending December 31, 2023, Swifty achieved revenues exceeding $128 million and net profits around $2.44 million, despite significant reinvestments in technology and licensing.
Post-acquisition, Swifty Global is set to continue its operations under its existing management while becoming a key component of Signing Day Sports’ portfolio, enhancing its software offerings and accelerating product development. This acquisition is expected to leverage Swifty’s in-house development team, significantly reducing costs and speeding up the rollout of new features 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 both Signing Day Sports and Swifty Global, steering the expanded operations towards innovative market solutions in sports technology and casino gaming. The merger is poised to create a robust platform poised for rapid growth and market penetration.
This acquisition is projected to place Signing Day Sports at the forefront of the sports technology and online gaming markets, combining its educational and recruitment technologies with Swifty’s gaming solutions. The deal not only diversifies Signing Day Sports’ revenue streams but also solidifies its position in a competitive market, setting the stage for future expansions and technological advancements.
The governance structure post-transaction will include a balanced board of directors, adhering to NYSE American regulations, ensuring a strategic oversight that aligns with industry best practices and shareholder interests. This structured approach is designed to foster robust corporate governance and operational efficiency across both entities.
With this strategic acquisition, Signing Day Sports is not just expanding its technological and market footprint but also setting a new standard in the integration of sports recruitment and casino gaming technologies. This move is expected to catalyze significant growth, drive innovation, and enhance shareholder value in the evolving sports and gaming markets.