Engagement is up with the video game industry, especially esports, which is proving that it can be as enjoyable at a social distance as it ever was among live crowds.
When investing into the tech industry, specifically anything related to gaming, revenue and company growth can come from almost any angle. There is a lot of excitement around esports lately, given the entertainment industry as a whole has gotten a bigger audience thanks to social isolation practices, esports is also gaining in popuarity both among new fans and businesses.
Canadian tech Company YDX Innovation Corp. (TSX: V.YDX, OTC: YDRMF, Forum) has bolstered its growing esports division, having completed the transaction for its acquisition of arm’s-length private Toronto-based esports organizer and management company – BEAT Gaming Corp.
YDX is a technology Company that develops products and services for immersive technologies like augmented and virtual reality (AR & VR), esports events and interactive exhibitions.
Under the terms of the deal, YDX is paying $640,000, which includes $240,000 in stock consideration, made possible by closing 4 million shares in the Company’s capital, along with a cash payment of $400,000.