In a deal worth $15m, IT service management firm Intema Solutions has agreed to acquire the parent company of LOOT.BET, Livestream. Reportedly, according to a press release on the subject, this deal will be made up of a one-time cash payment and the issuance of a ‘secured vendor take-back note’. However, should Livestream hit several milestones detailed in the acquisition contract within the first two years of onboarding, an additional $3m will be introduced into the deal.
This is the latest acquisition in a portfolio expansion from Intema, a Canadian-based IT firm. When Livestream comes into the fold, it’ll be joining the likes of HypeX.gg, Generationz Gaming Entertainment, Team BH, and TheSMACK.gg. As part of this acquisition, Intema will take on LOOT.BET, a popular and up-and-coming esports wagering platform.
What does this mean for both companies and the industry at large?
LOOT.BET isn’t a remarkably old platform, but it is already proving to be a popular one. It has already been considered as one of the best esports betting sites, offering dynamic markets, a clean aesthetic, and great stability for bettors. With this acquisition, Intema expands its esports wagering offerings by a considerable gulf. In a statement, Intema President, Laurent Benezra, stated:
After months of hard work and negotiations, we are thrilled to have signed this definitive agreement to purchase Livestream, which will allow Intema to become a major player in the esports and iGaming sectors.
Reportedly, Benezra also went on record stating that LOOT.BET is easily one of the best online betting platforms out there, offering untold levels of potential. As the esports betting space becomes increasingly popular, deals such as these can be considered extremely valuable to all involved.
Late last year, in 2021, Intema acquired Team Bloodhounds, which owns and operates Team BH, a high-performing esports team. Now, an entire end-to-end portfolio exists within Intema, which owns assets that include marketing, retail and branding, wagering, and social gaming.
At The Forefront
In 2021, LOOT.BET published revolutionary findings on the state of the esports betting industry. As a progressive and dynamic platform, LOOT.BET hasn’t been shy about publishing statistics regarding the performance of the platform, something that Intema has likely identified as a strong point.
For instance, LOOT.BET research revealed that, in 2020, the most popular title to bet on was Counter-Strike: Global Offensive. It also revealed that League of Legends was the leader in terms of average bet size and the highest return on a winning bet in 2020 on LOOT.BET was a €6,500 win from a €20 wager.
As the esports industry continues to expand at a rapid pace, both esports organisations and online betting platforms will grow hand-in-hand. In recent years, top-tier betting platforms have moved to sponsor and acquire gaming teams and organisations, and Intema may be steps away from following suit with LOOT.BET leading the charge.
If you’d like to learn more about the platform, feel free to scout through our comprehensive LOOT.BET review.