Intema Solutions agrees to acquire Loot.Bet owner

| By Robert Fletcher
Esports igaming group Intema Solutions has signed a definitive share purchase agreement to acquire Livestream, owner of the Loot.Bet server-based real-money gaming platform and esports betting brand.
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The deal could be worth as much as $14.8m (£11.1m/€13.3m), with this to be settled as $8.0m in cash, $4.0m by the issuance of a secured vendor take back note and the issuance of 6,470,588 common shares of Intema.

A further $3.0m in cash would also be paid if Livestream were to achieve a number of set milestones.

This would include a $1.5m if Livestream generates minimum gross gaming revenue of $7.5m during the 12 months after the acquisition, and a further $1.5m if the business were to post at least $11.3m in gross gaming revenue during the 13- to 24-month period following the closing date.

Read the full story on iGB North America.

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