""US Sports"" – Google News
Slinger, which makes gym bags and a ball throwing machine, is listed on the OTC Markets over-the-counter marketplace and closed Friday in the United States at $ 3.05 per share on a market capitalization of $ 130 million. Thanks to the acquisition, the local founders of Gameface will own more than 20 percent of Slinger.
Earlier this month, Slinger filed for a listing on the NASDAQ with the US Securities and Exchange Commission to raise up to $ 25 million.
It had already established a relationship with Gameface to develop the company’s AI-based app to improve the tech of the people who use its ball thrower. The companies started talking about an acquisition as part of this project.
“The core functionality of Gameface.AI is delivered through any camera or phone, enabling us to develop consumer-friendly and scalable solutions for the sports market,” said Mike Ballardie, CEO of Slinger.
Gameface will operate as a subsidiary of Slinger, with Shaik and his 10 engineers remaining.
The company had sales of $ 500,000 for this fiscal year and forecasts $ 2 million in 2022.
“We were very lean, we raised just over $ 1 million in five years,” said Shaik. “We have our own plans and it is in sync with our vision to provide analytics for every sport. Slinger supplies the hardware, we supply the software. “