The ZenSports team will become part of KeyStar as part of the deal.

KeyStar is now expected to widen ZenSports' sports betting presence worldwide and specifically in the US, where it plans to apply for a variety of state gaming licenses.

KeyStar CEO John Linss said of the acquisition: "Together with our net new innovation initiatives, by acquiring both ZenSports' and Ultimate Gamer's assets, KeyStar has assembled a comprehensive platform capability that enables both business-to-business and direct-to-consumer offerings within the exciting sports betting, eSports, and fintech/digital currency markets.

“The establishment of these three pillars represents an opportunity for KeyStar to grow our global business and provide many benefits for both our business and consumer clients. In addition, our leadership team has decades of experience in these industries, and we're thrilled to have ZenSports' amazing team join us as we acquire and grow these product lines and solutions."

Meanwhile, ZenSports' Co-Founder Mark Thomas, added: "We're excited to be partnering with the experienced and innovative team at KeyStar. The combination of KeyStar's brands and ZenSports technology provides an innovation platform that we believe will position KeyStar as the entertainment, gaming, and fintech technology leader for many years to come."

However, as part of the agreement, the acquisition will not include ZenSports’ Nevada gaming licence or assets, with KeySports saying it will look to ‘obtain its own Nevada gaming licence in the near future.’

Furthermore, KeyStar is using ZenSports’ cryptocurrency payments API and trading exchange technology to build white-label fintech solutions for its enterprise consumers.