Kambi Chairman Weighs In on Recent Acquisition Rumors

Kambi the industry’s trusted provider of a range of sports betting services to licensed B2C gaming operators, has commented on the ongoing media speculation about its acquisition by another party.

Kambi Denies the Rumors

Recent rumors strongly suggested that Genius Sports, a sports data and technology company, has approached Kambi with an acquisition offer. This significant development had an instant impact on Kambi’s share price, causing it to spike.

As it turns out, however, this was just a rumor that had gained traction. Kambi’s management was quick to address the matter in an official release. The company’s board chairman, Anders Ström, quashed the rumors, saying that the provider is not in any such talks at the moment. He clarified:

While Kambi tends not to comment on rumour and speculation, I can confirm that Kambi is not engaged in any such discussions.

Anders Ström, chairman, Kambi

Since the announcement, Kambi’s share price slumped to its usual level.

Kambi Is in a Favorable Position

The rumors concerning Kambi’s potential acquisition by Genius Sports came a month after the former company published strong Q2 results. In its report, the company outlined favorable metrics, which it attributed to the busy sporting calendar and the growth of its trusted partners.

The quarter saw a number of important developments for Kambi, including the appointment of Werner Becher as the company’s new chief executive officer. An experienced industry veteran, Becher agreed to build on the company’s success and strong industry position.

In the quarter, the company also completed its fourth share buyback program and unveiled a new long-term capital allocation policy that would generate further shareholder value.

However, the company also withdrew its 2027 financial targets amid significant market uncertainties.

Genius Sports, which was said to be behind the rumored acquisition of Kambi, recently teamed up with Elon Musk’s X for a new ads tool.