Kambi acquires Abios in SEK270m deal
Kambi will pay SEK150m in cash up front, plus an additional payment of up to SEK120m depending on the performance of the esports business.
Kambi chief executive and co-founder Kristian Nylén said the deal would allow Kambi to expand its presence in esports, an area it had been monitoring closely for some time.
“The esports category has long been under careful consideration by Kambi and we now feel it’s the opportune moment to take the next step and build out our capability in what is a vertical of great global potential. In Abios, we gain the esports DNA we keenly sought, and which complements the heritage and experience we already possess in sports betting.”
Abios, which provides data, odds and visualisations to a number of operators, took in revenue of SEK18m in 2020, from clients such as Kindred, LeoVegas and Pinnacle. Kambi said that following the deal’s completion, it will continue to offer its services to businesses that may not be Kambi clients.
Abios chief executive Oskar Fröberg and chief technology officer Anton Janér will both remain in their roles after the deal.
“Oskar and Anton have built a fantastic team that knows what it takes to succeed in esports and 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 said.
Oskar Fröberg, Abios Chief Executive Officer said Kambi and Abios share a long-term vision.
“Having built a strong relationship over many years, we believe Kambi to be the optimal partner for Abios,” he said. “Not only do they trust in our people and capabilities, but we share the same values and long-term vision.
“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.”
Abios also serves as the official esports data partner of Clarion Gaming. Through this agreement, it sponsors the esports sections on iGaming Business and ICE365.com.
Source: iGB News