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Newgioco acquires virtual sports specialist Virtual Generation

23rd January 2019 9:41 am GMT

Toronto-based gaming technology provider Newgioco Group has entered into an agreement to acquire virtual sports developer Virtual Generation (VG).

Newgioco will pay $4.5m in a combination of cash and stock to acquire the Malta-based supplier, with an additional earn-out payment of $560,000 in stock contingent on a 5 per cent increase in the number of bets placed through the VG platform in 2019.

VG was founded in 2014 and has grown from [...]

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