Premium sports betting network Kambi Group has acquired subscription-based esports company Abios for 270 million SEK (£22 million).
As a result of the deal, which is Kambi’s largest corporate acquisition to date, the Stockholm-based company will expand its current esports offering.
Kambi will submit an initial payment of 150 million SEK (£12 million) as well as a further 120 million SEK (£12 million) in incentives. This is reserved for future product development and performance of assets.
An ongoing relationship
Kambi has previously worked with Abios. In the past, it integrated its live esports APIs for clients of both Kindred Group and LeoVegas Sports.
Kambi CEO, Kristian Nylén, commented: “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.”
An opportunity for growth
Chief executive of Abios, Oskar Fröberg, and chief technology officer, Anton Janér, will reprise their positions as a result of the deal.
Discussing their roles at the helm of the company, Nylén said: “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.”
Fröberg also believes a partnership with Kambi will benefit both parties: “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.”