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Intema Solutions to acquire Loot.Bet owner


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.

Intema will also contribute $6m to Livestream’s operations over a period of 2 years following the closing date.

The deal is still subject to terms and conditions being met, but is expected to be concluded by the third quarter of 2021.

Intema president and chief executive Laurent Benezra said: “This is a pivotal transaction for Intema that will make us a leader in esports betting.

“Loot.Bet will be a significant part of our ecosystem, which now consists of not only esports betting, but also peer-to-peer gaming, esports tournaments and advertising through, Advertiise and

“We are now focusing on closing these transactions so that we can offer the best experience possible through fully licensed, safe and secure online platforms.”

Intema said that Loot.Bet posted betting handle of €62.2m ($74.7m/CA$92.2m) in 2020. The operator is also a supporter of the Esports Integrity Commission, having signed up in 2019.

Peter Zhalov, chief executive of Livestream, added: “Intema was a logical next step for Loot.Bet to pursue its growth, as it will allow us to expand into new markets in North America and benefit from synergies with complementary businesses to drive more traffic and thus more revenue.

“We are impressed with what Intema has achieved over a very short period of time. We see the potential once all the elements are in place, and we are thrilled to be part of it.”