Entertainment and technology company ESE Entertainment Inc has announced a share purchase agreement with World Phoning Group Inc, Encore Telecom Inc and their two subsidiaries, collectively known as WPG.
The agreement will allow ESE Entertainment Inc to acquire a 51 percent stake in the business to further develop its esports offerings.
The news comes after ESE Entertainment Inc signed an agreement of intent to acquire the assets of World Phoning Group Inc and Encore Telecom Inc. last December.
Under the agreement, all WPG assets will be merged into a newly formed Canadian company known as the World Performance Group. In addition to purchasing the issued shares, ESE is also investing $ 750,000 in the company.
Following the completion of the deal, ESE Entertainment is likely to become one of the largest esports infrastructure companies in the world with continued acquisition of new customers and expansion of its presence in several regions.