Treasure Global Inc. (NASDAQ: TGL) experienced a significant rebound on the US stock charts on Monday, following a strategic acquisition move. Despite a 5.36% decline during regular trading hours, TGL shares fully recovered after-hours, climbing 5.66% to close at $2.80.
Table of Contents
Toggle- Strategic Acquisition by Treasure Global
- Leveraging Advanced Technologies for Market Expansion
- Strategic Partnerships and Future Prospects
Strategic Acquisition by Treasure Global
Treasure Global declared its intention to buy all of the shares of Who Knows Wins Ltd. (WKW), a privately held business with headquarters in the UK. WKW operates an innovative online platform focusing on interactive social sports. TGL intends to leverage WKW's platform to penetrate the US market, aligning with major gaming brands to drive growth and expand its reach.
Leveraging Advanced Technologies for Market Expansion
The acquisition aligns with Treasure Global's strategic vision of utilizing cutting-edge technologies to drive revenue growth and expand its presence in the USA. WKW's platform, known for its robust and proprietary technology, integrates game logic and APIs to create a proprietary 'Game Engine.'
Real-time sports data feeds, social media platform connection, alerts, live-action reporting, intricate gaming logic, anti-money laundering (AML) safeguards, and third-party payment integration are some of the important features. By incorporating WKW's advanced platform, Treasure Global aims to enhance its offerings, providing clients with sophisticated tools and strengthening its position as a leader in the gaming technology industry.
Strategic Partnerships and Future Prospects
WKW has established a strategic partnership with GolfNow LLC, a leading golf technology company and a subsidiary of NBC. "GolfNow Compete" is the name of a new stat monitoring, social, and competitive golf app that GolfNow has released. In addition to developing new features for the GolfNow Compete App, WKW will offer a white-label service.
These services will feature GolfNow Sponsored Leagues, accessible to WKW players via the WKW site and golfers through the GolfNow Compete App. The growing need for customized and engaging fan experiences is propelling the fast evolution of the sports technology sector.
The worldwide sports technology market is expected to expand from 2023 to 2030 at a compound annual growth rate (CAGR) of 20.8%, according to Grand View Research. With its advantages over competitors and a track record of successfully attracting customers and generating income, Treasure Global is well-positioned to take use of WKW's cutting-edge platform.