Lottery.com Finalizes Agreement Terms for S&MI Ltd Acquisition
Lottery.com Inc. (Nasdaq: LTRY, LTRYW) (“Lottery.com” or the “Company”), a leading online lottery services provider, is pleased to 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 $3.00 per share.
The acquisition of S&MI significantly enhances the long-term value of the Sports.com brand, unlocking substantial growth opportunities in key target markets. This acquisition will further strengthen Sports.com's global profile and future prospects, solidifying its position as a leading force in the industry.
Leadership Appointment Post-Acquisition
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 Bircham’s Background
Marc is a respected figure in the world of soccer, known for both his playing career and managerial roles. He started his professional career at Millwall FC before moving to Queens Park Rangers FC (QPR), where he became a fan favourite. After retiring, Bircham transitioned into coaching and has held various roles in clubs like QPR, Chicago Fire, and Millwall. His deep understanding of the game and experience in football operations make him an invaluable addition to the Sports.com Media Ltd leadership team.
Strategic Partnerships and Expansion Plans
S&MI continues to expand its global reach with partnerships that enhance its service offerings. Recently, S&MI entered into a partnership with Clickshakers that launched in Singapore with a leading telecommunications company. Sports.com will benefit from that partnership once the acquisition is completed.
Future Plans in the UK and France
Clickshakers’ service is in the final stages of approval to launch in the UK, partnering with leading telcos for nationwide coverage. Additionally, expansion plans also include France, where the service is set to launch with major telecommunications companies, further broadening its platform and content offerings.
Statements from Company Executives
Majed Al Sorour, President of Sports.com, emphasized that the acquisition of S&MI Ltd represents a pivotal step in their journey to become a global leader in digital sports entertainment. He expressed excitement about the synergies this acquisition brings and the innovation they plan to pursue in new markets.
Matthew McGahan, Chairman and CEO of Lottery.com and Sports.com, stated that the acquisition is an excellent fit for the Sports.com brand, enabling it to leverage S&MI's advanced platform and app to accelerate growth and enhance offerings.
Marc Bircham, Director at Sports.com, noted that the acquisition marks the beginning of an exciting new era in sports entertainment, emphasizing the focus on motorsports, sim racing, and football to enhance fan engagement.
Frequently Asked Questions
What does the acquisition of S&MI Ltd mean for Lottery.com?
The acquisition will enhance the long-term value of the Sports.com brand and unlock substantial growth opportunities in key target markets.
Who will join the board of S&MI after the acquisition?
Marc Bircham, with extensive experience in football and sports management, will be appointed to the board of directors of S&MI.
What are the expansion plans post-acquisition?
Post-acquisition, the company plans to expand its services in markets including the UK and France through partnerships with telecommunication companies.
How will the acquisition benefit Sports.com?
The acquisition allows Sports.com to leverage advanced technology and expand its brand presence in new markets, enhancing their service offerings.
What are the company's goals with this acquisition?
The goals include establishing a strong global presence in digital sports entertainment and delivering unique experiences to sports fans worldwide.
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