Lottery.com Finalizes Terms for S&MI Ltd Acquisition
Lottery.com Inc. (Nasdaq: LTRY, LTRYW) (“Lottery.com” or the “Company”), a prominent provider of online lottery services, is excited to announce that it has finalized the terms for acquiring S&MI Ltd. (“S&MI”), the innovative technology firm responsible for the current Sports.com brand and app. The total cost of the acquisition will be covered through equity in Lottery.com’s common stock, valued at $3.00 per share.
This acquisition of S&MI significantly boosts the long-term value of the Sports.com brand, opening up considerable growth opportunities in key target markets. It will also enhance Sports.com's global profile and future potential, solidifying its status as a leading player in the industry.
Leadership Changes After the Acquisition
Once the acquisition is complete, S&MI Ltd will be rebranded as Sports.com Media Ltd. At that point, Lottery.com plans to appoint Marc Bircham to the board of directors of S&MI, leveraging his extensive experience in football and sports management for its newest subsidiary.
Marc Bircham’s Background
Marc Bircham is a well-respected figure in soccer, recognized for both his playing career and managerial positions. He began his professional journey at Millwall FC before joining Queens Park Rangers FC (QPR), where he became a fan favorite. After retiring, Bircham transitioned into coaching, taking on various roles at clubs such as QPR, Chicago Fire, and Millwall. His deep knowledge of the game and experience in football operations make him a valuable addition to the leadership team at Sports.com Media Ltd.
Strategic Partnerships and Growth Initiatives
S&MI is actively expanding its global footprint through partnerships that enhance its service offerings. Recently, S&MI formed a partnership with Clickshakers, launching in Singapore with a leading telecommunications company. Sports.com is set to benefit from this partnership once the acquisition is finalized.
Future Plans in the UK and France
Clickshakers’ service is nearing the final stages of approval for launch in the UK, collaborating with leading telecommunications companies to ensure nationwide coverage. The expansion plans also include France, where the service is scheduled to launch with major telecom partners, further enhancing its platform and content offerings.
Statements from Company Leaders
Majed Al Sorour, President of Sports.com, highlighted that the acquisition of S&MI Ltd is a crucial milestone in their mission to become a global leader in digital sports entertainment. He expressed enthusiasm about the synergies this acquisition will create and the innovations they aim to pursue in new markets.
Matthew McGahan, Chairman and CEO of Lottery.com and Sports.com, remarked that this acquisition is a perfect fit for the Sports.com brand, allowing it to utilize S&MI's advanced platform and app to accelerate growth and improve offerings.
Marc Bircham, Director at Sports.com, stated that this acquisition signals the start of an exciting new chapter in sports entertainment, with a 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.
