Signing Day Sports to Acquire Profitable Gaming Tech Firm Swifty Global in Major Stock Deal

A significant consolidation in the sports technology sector is underway as Signing Day Sports (NYSE American: SGN) announced plans to acquire 99.13% of sports betting technology company Swifty Global (OTC: DRCR) in an all-stock transaction, bringing together two complementary technology platforms with global ambitions.

The deal comes as Swifty Global reported strong financial performance, with revenues exceeding $128 million and net profits of $2.44 million for fiscal year 2023. This acquisition could significantly strengthen Signing Day Sports' market position by integrating Swifty's profitable betting technology with its existing sports recruitment platform.

Under the terms of the agreement, Swifty Global's shareholders will ultimately control approximately 91.76% of the combined company, while current Signing Day Sports shareholders will retain about 8.24%. The transaction involves an initial issuance of common stock representing 19.99% of Signing Day Sports, with the remainder to be issued as convertible preferred stock pending shareholder approval.

The merger's strategic implications are substantial for both companies. Signing Day Sports expects to reduce operational costs by over 50% through the integration of Swifty's SaaS technology, while gaining access to emerging markets across Europe, Africa, and the Middle East. The combined entity is positioning itself to capitalize on the growing global sports betting market while maintaining Signing Day Sports' collegiate sports recruitment technology focus.

Following the transaction's closing, Swifty Global's CEO James Gibbons will assume the role of Chief Executive Officer of the combined company, which is expected to transfer its listing to the Nasdaq stock exchange. The deal includes a three-month lock-up period for sellers and current officers and directors, demonstrating a commitment to long-term value creation.