Kambi and Genius Sports Deny Acquisition Rumors

On September 4th, Kambi released a statement saying it is not in discussions regarding a possible acquisition of the business. This came in the wake of a number of media reports suggesting that Genius Sports, a betting data supplier, had made an approach of this nature. A previous rumor that MGM Resorts was a potential buyer was also doing the rounds at some point. The latest rumor resulted in Kambi’s share price rising to a six-month high.

Kambi denies any acquisition discussions

Kambi chairman Anders Ström issued a clear and firm statement that Kambi is not involved in any acquisition discussions. Reports of Genius Sports buying Kambi were denied by both parties.

Kambi has its headquarters in Malta and offices in various countries, including Philadelphia, London, Sydney, and Stockholm. The company operates as an independent B2B provider of sports betting technology and services to licensed operators. Kambi has various customers in the US, including Greenwood Gaming and Entertainment. Parx online sportsbooks use the Kambi platform.

Genius Sports rejects acquisition rumors

Genius Sports also released a statement denying ongoing talks between the two companies. CEO Mark Locke said the company did not usually comment on unfounded and ill-informed rumors. However, to prevent further speculation, he confirmed that the company wasn’t involved in discussions of this nature with Kambi.

New era for Kambi

Kambi recently pulled off its longer-ranging financial targets, citing some issues such as regulation in Brazil. However, Kambi is entering into a new era. It has appointed Werner Becher as CEO to replace Kristian Nylén.

Becher was a CEO at Sportradar, a sports data aggregator. He helped to guide the company through its initial public offering on the NASDAQ in 2021.

Becher is excited to join Kambi at a time when it is opening up its service and widening its addressable market. His appointment became effective in July on the day after the publication of Kambi’s Q2 report for 2024. The Q2 report revealed that Kambi had generated a 6.5% year-on-year revenue increase to €45.7 million. It anticipates revenue of between €170m and €180m for the full year.

Becher has proven business acumen and extensive industry experience. He will help lead Kambi into a new era that will help to drive business growth. 

Kambi’s mergers and acquisitions

Some of Kambi’s latest mergers and acquisitions include the acquisition of Abios in 2021 and Shape Games in 2022. It will be taking a more modular, flexible approach in the future. It will continue to offer its core sports betting products but will also present esports data technology and front-end solutions.

Deals available to sportsbook suppliers are evolving and times are changing. Many operators have started building or acquiring sportsbook solutions. This gives them ownership over their technology stacks and some of these are Kambi clients. By taking a more flexible and modular approach, Kambi will be able to continue to increase its client base and keep supplying large industry brands with innovative sports betting products.