Esports Entertainment Group in talks to acquire Ardmore Investments
Ardmore develops and owns the source code for betting exchange software used to create Esports Entertainment's wagering platform, as well as other gaming and gambling software.
Esports Entertainment Group wants to purchase Ardmore in order to protect the source code from potential competitors, and to acquire a proven development team, the company revealed this week.:
“Owning our bet exchange technology and acquiring the development team behind it significantly strengthens our position within the Esports wagering space. As we are on the verge of launching the world's first, Esports bet exchange, the time was right to acquire the core technologies supporting our business model,” CEO Grant Johnson said.
Esports Entertainment said it will issue 1,750,000 common shares and pay USD $250,000 for Ardmore, which is a Polish corporation with offices in Warsaw, Poland.The transaction is expected to close within the next four weeks.
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