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