VS - Versus Systems to acquire Xcite Interactive for $19M

Versus Systems ([[VS]] -3.5%) entered into a definitive agreement to acquire 100% of capital stock of Xcite Interactive for $19M and a $2.25M retention pool for Xcite employees.Xcite is a world leader in interactive audience engagement, having worked with 150+ professional teams across the NFL, NBA, NHL, and MLB as well as the World Cup, Formula1, and other live events worldwide.Xcite will be a wholly-owned subsidiary of Versus Systems with Matthew Pierce, Versus CEO, and Craig Finster, Versus President and CFO, assuming same roles at the subsidiary.Versus will issue, in exchange for all of the outstanding equity interests in Xcite, total amount of share consideration of up to 2.01M shares valued at $7.9109; also a cash consideration of up to ~$130,799 subject to adjustments in the agreement."This merger will allow us to build the next generation of audience engagement products. Versus will take its patented rewards, advertising, and engagement tools and add

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Versus Systems to acquire Xcite Interactive for $19M