Elys Game Technology, Corp. acquired100% stake in Engage It Services Srl from its founding shareholders for â¬2 million.
February 01, 2023
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Elys Game Technology, Corp. (NasdaqCM:ELYS) acquired 100% stake in Engage It Services Srl from its founding shareholders for â¬2 million on January 29, 2023. Pursuant to the Agreement, Elys will issue approximately 3,018,462 shares of common stock (âSharesâ), valued at â¬1.08 million on a debt free basis, which purchase price may be increased or decreased dependent upon the net financial position of Engage as determined by due diligence, on or prior to June 30, 2023. Subject to the repurchase option set forth in the Agreement, the Sellers will be restricted from disposing of the Shares for 36 months and the Company may repurchase the Shares issued for â¬1.08 million in cash up to June 30, 2023. Following the completion, Engage became a wholly owned subsidiary of Elys. The current Engage and Elys leadership and management team will remain in their current roles and their interest are aligned with that of our shareholders due to the equity nature of this transaction. Engage employs 30 experts.
Elys Game Technology, Corp. (NasdaqCM:ELYS) completed the acquisition of 100% stake in Engage It Services Srl from its founding shareholders on January 29, 2023. As part of the transaction, Elys acquired cash of â¬0.087 million.
Elys BMG Group, Inc. is a global gaming technology company. The Company offers betting platform, which is capable of processing any type of digital game content. The Company offers its clients a full suite of omnichannel leisure gaming products and services, such as online sports betting, e-sports, virtual sports, online casino, poker, bingo, interactive games, and online slots on a business-to-business (B2B) basis in Italy and has B2B operations in three states as well as the District of Columbia in the United States market. The Company provides sports betting software, online casino software, services for commercial and tribal casinos, retail betting establishments, and franchise distribution networks. It offers fully integrated end-to-end sportsbook solution for both B2B and business-to-consumer (B2C) leisure gaming operators. It also offers virtual betting experiences that creates and manages multiple level commercial networks from one dashboard.