LOOT.BET acquired in Intema Solutions deal

Canadian information technology company Intema Solutions has signed a letter of intent to acquire Livestream Gaming Ltd, owner of esports betting platform LOOT.BET.

The transaction will see Intema acquire all of the issued and outstanding Livestream securities for $14.75m (~£10.6).

Image credit: LOOT.BETA further $3m (~£2.157m) will be paid out if Livestream hits outlined revenue targets following the closing date, consisting of $7.5m (~£5.39m) generated revenue in the first 12 months and $11.25m (~£8m) after 24 months.

Laurent Benezra, President and CEO of Intema, commented on the acquisition in a release: “This is a pivotal transaction for Intema that will make us a leader in esports…