Slinger Bag, a sports brand focused on innovating game improvement technology and equipment and with the vision to become a connected sports company, has acquired Foundation Tennis. Foundation Tennis is a provider of tennis software applications covering tennis club and facility administration and encompassing user and CRM experiences.
Foundation Tennis’s proprietary technology suite provides business services to the tennis industry, including operational and payments software as well as digital platform management (web site design, hosting, iOS and Android apps).
“We are thrilled to bring Foundation Tennis under the Slinger brand and in doing so to support Charlie and his team in building out his platform providing a compelling offering of facility and member services on a single user platform,” said Mike Ballardie, CEO of Slinger. “Today’s acquisition announcement represents a significant step in our brand evolution at Slinger towards becoming a leading connected sports company. We will now be better able to know and understand the specific needs of tennis players, member clubs and tennis facilities around the world and in doing so make use of this knowledge to drive monetization of our user base through offering a range of value-enhancing products and services.”
“Over the past many years, we have built and accumulated a diverse array of tools and software to best serve the tennis facility market,” said Charlie Ruddy, the founder and president of Foundation Tennis. “I developed my first SaaS tennis management system back in 2001 with the intended goal to support the market and its software and technology needs. Foundation Tennis, which we began developing in 2017, represents the sum of our experience while harnessing the latest technology to give our customers a cutting-edge competitive advantage. Mike and the Slinger team have tapped into something special in the tennis market and we look forward to driving value and innovation for the entire industry together.”
Pursuant to the definitive agreement, Slinger has acquired all issued and outstanding shares of Foundation Tennis. Effective immediately, Foundation Tennis will be a wholly owned subsidiary of Slinger Bag Inc. Under the terms of the agreement Foundation Tennis shareholders will receive 600,000 shares of Slinger Bag common stock and additional 400,000 in two further tranches over the next 24 months.