Livestream owns LOOT.BET, a Curaçao licensed server-based, real-money gaming platform. LOOT.BET has 450,000+ registered users. It also sponsors professional tournaments and teams and also partners with esports operators, studios, and influencers.
At the end of 2020, Livestream's unaudited financial statements showed gross gaming revenue CND $4.8 million and a net profit of CND $114,792, most of this revenue came from gamers in Europe and Asia. Furthermore, LOOT.BET betting handle was CND $92.2 million.
The President and CEO of Intema Laurent Benezra, said: "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 HypeX.gg, Advertiise and TheSMACK.”
Peter Zhalov, the CEO of Livestream, commented: "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."
Livestream, HypeX.gg, Advertiise and TheSMACK.gg are expected to be complementary drivers of ITM's future revenue growth.
The LOI anticipates that Intema will pay $8 million of the $14.75 million in cash, while $4 million will be paid by the issuance of a secured vendor to take back note of Intema bearing 12% interest, and $2.75 million will be paid by the issuance of Intema common shares.
On February 9, 2021, ITM announced that it had acquired 100% of HypeX.gg for a cash payment of $75,000 and 1,625,000 common shares of Intema.
On April 14, 2021 ITM announced that it had signed an LOI to acquire 100% of Advertiise Technologies, a private corporation with operations worldwide (25,000 users in 40 countries).
Benezra added: "People like to compete. Esports lets you compete with no borders. You can go online to compete with a person in China or Japan or next door."
"The global Esports market was valued at USD $1.1 billion in 2019," states Grand View Research, "and is expected to expand at a CAGR of 24.4% to reach USD $6.8 billion in 2027.
The CEO of Global Stocks News Guy Bennett commented: "Viewership for the 2019 Esports League of Legends tournament was about 100 million people, it was broadcast in 16 languages and across 20 platforms".
"By contrast, the 2020 NBA final was available exclusively on ABC, and was watched by 7.5 million people," Bennett added.
ITM intends to raise at least $10 million through a private placement, at a price "to be determined in the context of the market" he said.