Kambi Group plc has acquired global esports specialists Abios in a deal that the company says transforms Kambi into a leading provider of esports products and services. It seeks to capitalise on the emerging opportunities within this rapidly growing vertical.
The agreement consists of an initial consideration of SEK150 million (€14.7 million) paid in cash, with up to SEK120m (€11.7 million) to be paid in earnouts related to product development and the future revenue performance of Abios.
Founded in Stockholm in 2013, Abios is a B2B esports company that provides data, odds and visualisation services to industry operators including Kindred Group, LeoVegas Group and Pinnacle Sports, and major technology companies such as Microsoft. Its services are delivered by approximately 40 staff members based in Stockholm and Manila.
In 2020, Abios generated revenue of SEK18 million (€1.8 million) and, following the acquisition, will continue to provide products and services to both Kambi and non-Kambi customers, in turn broadening the Group’s revenue streams and expanding Kambi’s reach into new business areas.
Spearheaded by CEO Oskar Fröberg and CTO Anton Janér, both of whom will remain in their leadership roles following the acquisition, Abios is a major player in the esports landscape, driven by its in-house data management and technology, as well as its deep knowledge and passion for esports.
The combination of these valuable capabilities will enable Kambi to offer a best-in-class esports product and expedite Abios’ growth and is fully aligned with Kambi’s strategy to integrate specialised high-tech trading units into its modularised platform.
The esports wagering market is on a steep growth trajectory and is projected to double in size by 2025, representing an important future revenue stream for Kambi given the current and latent opportunity in Europe and the United States, respectively.
Kristian Nylén, Kambi Chief Executive Officer and Co-founder 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, which complements our heritage and experience in sports betting.
“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.”
Oskar Fröberg, Abios Chief Executive Officer said: “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.”
He has held senior positions in a range of renowned iGaming companies, including Evolution Gaming, Tain, NYX, and SG Digital
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Andrew, an accountant by profession and a certified public accountant, has a wealth of experience in the accounting field within the financial services and construction sectors