- Intema Solutions had announced its intentions to acquire Livestream back in May 2021
- The two companies have finally reached an agreement that will see Intema purchase Livestream for $15 million
- The deal will be evaluated by the responsible regulators and will eventually close on February 7
Intema Solutions has completed its negotiations with Livestream and will acquire the company in a $15 million deal.
Intema Sets to Acquire Livestream
Intema Solutions, an esports, iGaming and entertainment provider, has penned an acquisition deal with Livestream, the parent company of the esports betting operator Loot.Bet.
The deal will see Intema pay almost $15 million for the acquisition. About $8 million of this total sum will be paid in cash, another $4 million will be covered by the issuance of secured vendor take-back note and 6,470,588 common Intema shares and the remaining $3 million will be paid in cash when/if Livestream manages to reach certain pre-determined revenue milestones.
The last $3 million will depend on two goals. Each fulfilled goal will see Intema pay Livestream $1.5 million at a later date. The first of the two portions will be paid if Livestream manages to reach $7.5 million of gross gaming revenue within a year of the acquisition. The second will be paid if Livestream’s gross gaming revenue surpasses $11.3 million within the second year after the deal.
The agreement is expected to close on February 7 if it gets approved by the responsible regulators.
Once Intema acquires Livestream, it will support its new subsidiary’s business by providing it with $6 million in capital funding. This money will be paid in portions throughout the first two years of the acquisition.
The Deal Will Open a New Chapter for Intema
Laurent Benezra, the CEO and president of Intema Solutions, spoke about the new acquisition, calling it the culmination of months of hard work. The acquisition plans were initially announced in May 2021 after which Intema had to negotiate the terms of the deal with Livestream.
Benezra is thrilled to have finally reached an agreement with Livestream and believes that this deal will help Intema to rise in the world of esports betting and iGaming. He elaborated:
“Loot.Bet is unequivocally the best online betting platform in the world and, with the help of Intema’s emerging ecosystem and Isle of Man license, it has the potential to grow significantly more.”
Benezra concluded that he is excited to close the deal and begin a new journey alongside Livestream.