Kambi Group Plc has this afternoon disclosed that it has reached an agreement to acquire live esports data and markets odds specialist Abios for a total consideration of SEK 270 million (€26m).
The deal sees Kambi undertake its biggest corporate acquisition to date, providing the Stockholm-listed technology group with a new platform to expand its esports services within global betting’s fastest growing business segment.
The deal’s breakdown sees Kambi commit to an initial SEK 150 million (€14.5m) cash payout – with a further SEK 120 million in earnout incentives (€11.8m) reserved for product development and future performance of Abios assets.
Kambi has maintained a previous relationship with Abios, integrating its live esports APIs and market widgets for its sportsbook clients of Kindred Group and LeoVegas Sports.
“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.” – commented Kambi CEO Kristian Nylén.
“In Abios, we gain the esports DNA we keenly sought, and which complements the heritage and experience we already possess in sports betting.”
During 2020 Abios was reported to have registered corporate revenues of SEK 18m (€2m) – generated by its flagship esports data, odds and visualisation services.
Abios enterprise team of Oskar Fröberg (CEO) and Anton Janér (CTO) will remain with the business, heading up Kambi’s dedicated esports unit comprised of 40 staff members based in Stockholm and Manila.
“Having built a strong relationship over many years, we believe Kambi to be the optimal partner for Abios. Not only do they trust in our people and capabilities, but we share the same values and long-term vision.” – Oskar Fröberg, Abios CEO said.
“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.”
Kambi backed its new venture’s proven technology credentials, in which Abios further serves as a principal esports data supplier for Microsoft, and to provide a further foothold for the technology group to dominate esports wagering which is projected to double in size by 2025.