ESE Entertainment, a publicly traded esports and gaming company (TSXV:ESE, OTCQX:ENTEF), announced on Tuesday the acquisition of Bombee Global Entertainment Ltd., also known as Bombee Americas—the North American division of Bombee Event Production AB. Bombee is a self-described international production company specializing in “live production, special effects, broadcast and event management for the gaming sector.”
Through a share purchase agreement (SPA) described as an “arm’s length transaction, ESE acquired all of the outstanding shares of Bombee Americas. The total consideration amounts to $1.5M USD and includes 30M common shares of ESE at a deemed issue price of $0.10 per share. The payment schedule comprises $750K in cash paid at closing, $375K in cash payable six months post-closing (subject to customary working capital adjustments), and an additional $375K in cash payable 12 months after closing.
ESE also noted that the founders of Bombee Americas have signed three-year service agreements to continue leading the business post-acquisition, with current staff remaining in place.
The transaction is still subject to closing conditions and regulatory approvals from the TSX Venture Exchange.
In July, ESE sold its remaining interest in gaming marketing firm/ad agency GameAddik to BPV Games.
Tobias Seck contributed to this story.