Burnaby's ESI Entertainment Systems Inc. (CNSX:ESY) plans to sell its wholly-owned ESI Integrity Inc. subsidiary to Mississauga-based Insight ID for US$2.25 million.
Under the terms of the letter agreement, Insight will acquire all the shares of ESI's security and risk management software division for gaming operators on or before November 11, 2009.
Closing of the deal is subject to customary closing conditions, regulatory approvals and satisfaction of waiver conditions in the agreement.
ESI Integrity is currently deployed in North and South America, Europe, Asia and Africa, monitoring and auditing more than US$20 billion in annual sales for state lotteries and pari-mutuel organizations.