Mobile Streams PLC (AIM:MOS) has agreed terms for the reverse takeover of Mexico-based and Latin American-focused gaming company, Estadio Gana, valued at an agreed £62.8 million following its recent launch.
On Monday, the AIM-listed company said it had agreed to the deal, issuing its own shares to the owners of the Mexican company so that 100% of Estadio Gana will be owned by Mobile Streams.
As a result, trading in the shares on AIM has been suspended pending publication of an admission document.
The acquisition, if completed, would constitute a reverse takeover under AIM rules.
The company is also progressing plans to bring Capital Media Sports and potentially other entities into its portfolio.
This move supports its aim to build an integrated media, technology and iGaming group with a particular focus on Latin America and the Mexican market.
"We are excited and extremely pleased to announce our intended acquisition of Estadio Gana," said chief executive Mark Epstein.
"Our initial focus is on taking a leading position in the fast-growing Mexican market, but our ambitions are significant as we look to grow across the LATAM region. Simply put we want to create a world class sports, media and entertainment business."