Kambi Group has acquired global esports specialists Abios for an initial consideration of SEK150m ($17.2m) in cash, with up to SEK120m to be paid in earnouts.
Such earnouts will be related to product development and the future revenue performance of Abios. The deal “transforms Kambi into a leading provider of esports products and services as it seeks to capitalise on the emerging opportunities within this rapidly growing vertical,” a statement from the sports betting company read.
“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,” said Kambi CEO and Co-founder Kristian Nylén (pictured).
“In Abios, we gain the esports DNA we keenly sought, and which complements the heritage and experience we already possess in sports betting.”
The acquisition was spearheaded by Abios CEO Oskar Fröberg and CTO Anton Janér, both of whom will remain in their roles following 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,” added Nylén.
Founded in Stockholm in 2013, Abios is an esports data and odds provider, currently working with operators such as Kindred Group and LeoVegas Group, as well as technology company Microsoft.
Fröberg commented: “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.
“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.”