eSports operator plans to buy betting exchange software provider

Antigua-based online eSports betting specialist Esports Entertainment Group has announced that it is in negotiations to acquire betting exchange software developer Ardmore Investments, a subsidiary of Swiss online gambling software developer Swiss Interactive Software GmbH.

Ardmore developed 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.

Given the imminent launch of the Esports wagering platform, Along with the company’s online gaming expansion plans, Esports Entertainment Group intends to acquire Ardmore in order to protect the source code from potential competitors, and to acquire a proven development team, the company advised in a statement Thursday..

CEO Grant Johnson, said:

“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.”

Johnson revealed that Esports Entertainment 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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