Kambi Group paid an initial consideration of SEK 150 million in cash to acquire the esports specialists, Abios, it was announced this week. Kambi will use this acquisition to bolster its position in the fast-growing sports betting sphere.
As per the terms of the agreement, Kambi could pay an extra up to SEK 120 million in earnouts, depending on future revenues and product development.
Commenting on the lucrative deal was the chief executive officer and co-founder of Kambi, Kristian Nylen who said: “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 is a Stockholm-based B2B esports company which was launched in 2013. It provides data to companies such as LeoVegas and Kindred Group. Abios is headed by Oskar Froberg, CEO and Anton Janer, who acts as CTO. Under the terms of the deal with Kambi Group, both these executives will remain in their current positions.
Froberg called future opportunities for both companies as a result of the acquisition deal “compelling”.
