Business
Mer Telemanagement Solutions Signs Definitive Merger Agreement with SharpLink, a Pioneer in Sports Betting Technologies
RA'ANANA, Israel and MINNEAPOLIS, April 15, 2021 /PRNewswire/ -- Mer Telemanagement Solutions Ltd., (Nasdaq: MTSL) ("MTS or the "Company"), a global provider
About this update from Sharplink, Inc.
[{"type":"text","content":"RA'ANANA, Israel and MINNEAPOLIS, April 15, 2021 /PRNewswire/ -- Mer Telemanagement Solutions Ltd., (Nasdaq: MTSL) (\"MTS or the \"Company\"), a global provider of telecommunications expense management, call accounting and contact center software, announced that it has entered into a definitive Agreement and Plan of Merger with SharpLink, Inc. (\"SharpLink\"), a leading online technology company that works with sports leagues, fantasy sports sites and sports media companies to connect fans to relevant and timely betting content sourced from its sportsbook partners. Upon the closing of the merger, which is conditioned upon approval of MTS shareholders and other standard closing items, the Company will change its name and pursue the business of SharpLink under new management and Board control. \n \n \nFounded by industry veterans with extensive experience developing and selling enterprise-level sports technology solutions, SharpLink is an early innovator in the sports betting conversion marketplace. SharpLink currently has contractual relationships with sports teams, media companies and league operators, including the PGA TOUR® and NASCAR®. Both leverage SharpLink's legacy \"free-to-play\" game platform to enhance user engagement and gaming strategies. More recently, the PGA TOUR and NASCAR have leveraged SharpLink's conversion platform to introduce dynamic and real-time sports betting content from multiple sportsbook partners.\nMorgan Stanley estimates that the online sports betting market will generate over $9.2 billion in annual revenue in the U.S. alone by 2025, with the international market currently several times that amount. According to internal research, an estimated $20 billion has already been invested in acquisitions and partnerships by gaming operators, sports leagues and media companies as the industry rapidly expands and prepares for betting growth in the U.S. Currently 22 states allow online sports betting, including New York, which passed the new legislation just last week. SharpLink's engagement technology delivers personalized sportsbook betting offers and engaging experiences for fans who are interested in legal online betting. \n\"We are excited to achieve this major milestone by signing the definitive merger agreement with SharpLink, and we believe the transaction, when closed, will provide significant value ...