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.

Premium subscribers continue here to the full article.