Kambi, a premium provider of sports betting services to licensed B2C gaming operators, has struck an acquisition deal to get its hands on market-leading esports data and technology platform Abios.
The Companies Strike a $31M Acquisition Deal
According to the deal, Kambi will provide an initial payment of $17.2 million, followed by a second one of up to $13.8 million. The second payment may vary, depending on how the companies’ esports business performs on the market.
With this deal, Kambi is looking to strengthen its push in the esports market. The company has been eyeing the industry for a while now and decided that Abios is exactly what it needs to expand its esports operations.
Kambi is a renowned company with offices in seven different countries. Its headquarters are located in Malta, but it also has branches in Bucharest, London, Manila, Philadelphia, Stockholm, and Sydney. The sports betting services provider won the Online Sports Betting Supplier at the Global Gaming Awards London 2021.
Following the acquisition, Abios will continue to work with clients that are not necessarily affiliated with Kambi, the latter company explained. Additionally, Abios will get to keep its chief executive officer Oskar Fröberg and its chief technology officer Anton Janér.
Abios’ data and odds services have earned revenue of $2 million for 2020. The quality of Abios’ products has attracted some big names such as Pinnacle, Kindred, LeoVegas, and even Microsoft. Abios is also the official esports data partner of esports event organizer Clarion Gaming.
Kambi and Abios Share The Same Long-Term Vision
Kambi’s co-founder and chief executive officer Kristian Nylén revealed more about his company’s interest in esports. He shared that Kambi has decided now is the perfect moment to act on this interest and push into esports. Nylén is happy to work with Abios:
“In Abios, we gain the esports DNA we keenly sought, and which complements the heritage and experience we already possess in sports betting.”
He added that Fröberg and Janér had built a great team that knows how to make it big in esports.
“I’m excited to not only see the Abios business grow but also what the integration of Abios to Kambi’s modular platform will bring to esports betting in the future,” Nylén concluded.
Fröberg admitted that the two companies are similar in their values and the way they work for the future. He believes that Kambi is the optimal choice of partner for Abios and is looking forward to reinforcing the relationship between the two companies.
“Not only do they trust in our people and capabilities, but we share the same values and long-term vision,” Abios’ CEO explained.
“The opportunity in esports is compelling as ever, and we look forward to exchanging knowledge with Kambi and adding their experience and muscle power to our entrepreneurial nature,” the chief executive concluded.