Slinger has joined forces with award-winning artificial intelligence sports technology company, GAMEFACE.AI, as their next step in building a disruptive, world-class connected sports company.
Slinger, a sports brand focused on innovating game improvement technology and equipment, has today announced they are acquiring GAMEFACE.AI’s leading AI, data collection and performance analysis capabilities, to enhance Slinger’s connected sports and technology offering.
GAMEFACE.AI has already developed AI systems for the upcoming Slinger App, including instant analysis of groundstrokes and biomechanics, plus event recognition from match play situations.
GAMEFACE.AI offers advanced technology that will allow Slinger Bag to deliver both technical (biomechanics) and tactical (strategy) insights through its camera agnostic AI video platform.
According to Yahoo Finance, The deal will see Slinger acquire 100% of the issued and outstanding shares of GAMEFACE.AI in exchange for 6,666,667 shares of Slinger’s common stock, with additional shares of Slinger’s common stock in value up to US$3.5 million (AUD$4.7 million) in contingent considerations.
Overall the deal is valued at $24 million based on the closing price.
CEO of Slinger, Mike Ballardie said: “The acquisition of GAMEFACE.AI is the next step in our evolution towards building a disruptive, world-class connected sports company and enables us to serve our customers in new and exciting ways.”
“We have been so impressed with the technology expertise and software development capabilities of the GAMEFACE.AI team as part of their involvement in building out our Slinger app, and now look forward to bringing them in-house as a portfolio company as we build new software and technology products for tennis and other sports.”
“GAMEFACE.AI’s core capabilities are delivered through any camera or phone, which allows us to build consumer-friendly and scalable solutions for the sports market,” Ballardie said.
GAMEFACE.AI co-founder and CEO, Jalal Shaik said they are thrilled to have signed an official agreement with Slinger.
“We believe that every athlete or coach should have access to high-performance analytics that are relevant and meaningful to them,” Shaik said.
“The time is now for the democratization of high-performance coaching, and our AI technology helps players to train better and improve their performance.
“Additionally, there is also a real opportunity with AI to create new athlete and fan experiences through data points that previously were never captured,” Shaik said.
Shaik concluded that Slinger will now take what they have built “to new levels” and help them expand to meet remarkable growth opportunities that they predict ahead.
