Treasure Global Inc. (NASDAQ: TGL) experienced a notable recovery in its stock price during the extended trading session on Monday. TGL shares surged by 7.01% to reach $2.29, rebounding from a -10.83% loss during the regular session, which concluded at $2.14. Recent developments appear to have supported this stock price recovery.
Strategic Acquisition By Treasure Global
Treasure Global (TGL) has announced plans to buy a 100% stake in Who Knows Wins Ltd (WKW), a privately owned firm situated in the United Kingdom. WKW runs an innovative online platform centered on social sports interaction. Treasure Global plans to use WKW’s platform to penetrate the U.S. market, collaborating with big gaming companies to accelerate expansion.
The purchase is consistent with Treasure Global’s strategic ambition of leveraging breakthrough technologies to drive revenue growth, develop in the United States, and establish WKW as a major player in the sports engagement and gaming sectors. WKW has developed a unique and robust proprietary technology platform. Their system uses a sophisticated ecosystem of game logic and APIs to power a proprietary ‘Game Engine’ that drives their app.
Key features include real-time scores via a live sports data feed, integration with social platforms, settlement and notifications, live-action reporting, complex gameplay logic and market setup, anti-money laundering measures, and third-party payment integration. By integrating WKW’s platform, Treasure Global aims to enhance its offerings and solidify its leadership in the gaming technology sector.
Industry Growth and Future Potential
The sports technology industry is rapidly evolving, driven by a growing need for interactive and personalized fan experiences. According to Grand View Research, the global sports technology business is predicted to increase at a compound annual rate of 20.8% between 2023 and 2030. This increase is being driven by the need for technology-based sports services that promote audience participation and entertainment, as well as the digital transformation of arenas and stadiums.
The potential of this acquisition complements Treasure Global’s roadmap. Treasure Global’s strengths and competencies allow it to use WKW’s unique platform, which has a track record of engaging users and producing revenue. By unlocking the potential of this acquisition, Treasure Global aims to deliver exceptional value to its stakeholders and clients.
