(MENAFN- Baystreet.ca) Mer Telemanagement Solutions Ltd (NASDAQ: MTSL) rose in Friday trading after the company announced it signed a definitive merger agreement with SharpLink.
Mer is a global provider of telecommunications expense management, call accounting and contact center software. SharpLink is , 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.
Founded 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.
Morgan 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.
MTSL shares soared $2.17, or 75.6%, to $5.04.
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