Esports technology company ESE Entertainment has reached a definitive share purchase agreement to acquire European esports media firm Frenzy.
The deal will see ESE acquire 100 per cent of Frenzy for a price of CAD $1,242,500 (~£726.2k) in cash and 656,606 common shares of the company. Moreover, an extra CAD $1,242,500 will be payable over six months.
According to the release, more common shares (1,363,720) will be released later in four equal instalments every six months. ESE will also discharge a loan owned by Frenzy.