London-listed Velox3 has conditionally agreed to acquire Sheltyco Enterprises Group, which specializes in marketing and promotion activities for third party gaming operators including Betsson’s Betsafe, for a consideration of £10.9m.

Velox3, formerly 24/7 Gaming Group, will purchase Sheltyco through the issue of approximately 43.75m new consolidated shares at a notional price of 25 pence per share. The acquisitions is classified as a reverse takeover under AIM Rules.

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