Treasure Global Inc (NASDAQ: TGL) Announces Acquisition of Who Knows Wins Ltd, Boosting US Market Presence
In a strategic move to expand its reach in the US market, Treasure Global Inc has announced its intention to acquire 100% of the shares of Who Knows Wins Ltd, a UK-based online social sports platform. This acquisition is in line with Treasure Global's goal of utilizing innovative technologies to drive revenue growth and market expansion.
Who Knows Wins is known for its robust technology platform that allows users to predict the outcomes of sporting events. With over 65,000 registered users, the platform offers real-time scores, live sports data feeds, and integration with social platforms. It also provides valuable first-party data collection, offering deep audience insights and a cost-effective way to convert passive fans into active users.
The acquisition is expected to strengthen Treasure Global's position in the gaming technology space, providing advanced tools for clients and enhancing the company's overall service offering. Who Knows Wins has already established a strategic partnership with GolfNow LLC, a subsidiary of NBC, for a golf app that includes sponsored leagues and additional functionality.
The sports technology market is experiencing significant growth, with a projected CAGR of 20.8% from 2023 to 2030. This growth is driven by an increasing demand for interactive fan experiences and the digital transformation of sports venues.
Carlson Thow, CEO of Treasure Global, expressed confidence in the acquisition's potential to deliver exceptional value to stakeholders and clients. The company is actively seeking additional acquisition opportunities to further its growth.
However, a closer look at Treasure Global's financial health reveals some challenges. With a market capitalization of just 3.65 million USD, the company has seen a significant decline in revenue over the last twelve months. The gross profit margin is also low at 2.15%, highlighting concerns about profitability and competitiveness.
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In conclusion, while Treasure Global's acquisition of Who Knows Wins Ltd presents opportunities for growth, investors should carefully consider the company's financial performance and future outlook before making any investment decisions. Stay informed and stay ahead in the ever-changing world of financial markets.