Intema Solutions to acquire Loot.Bet owner

| By Nosa Omoigui
Esports provider Intema Solutions (Intema) has signed a letter of intent to acquire Livestream Gaming, owner of esports betting platform Loot.Bet. 
Itema Solutions sign letter of intent to acquire Livestream Gaming

The proposed deal will cost Intema $14.75m; $8m in cash, $4m issued by a secure vendor, and $2.75m in a share issue floated on the TSX Venture Exchange.

A further $3m will be paid if Livestream hits certain revenue targets after the closing date, consisting of $7.5m worth of revenue in the first 12 months and $11.25m after 24 months.

Read the full story on iGB North America.

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