Kambi Group plc has officially entered the gaming world with its acquisition of esports odds and data provider, Abios. The agreement consists of initial considerations of roughly $17 million, with up to $13 million to be paid in earn-outs related to product development and the future revenue performance of Abios.
“Having built a strong relationship over many years, we believe Kambi to be the optimal partner for Abios,” said Oskar Fröberg, CEO of 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.”
Following the acquisition, Abios will continue to provide products and services to both Kambi and non-Kambi customers, in turn broadening their revenue streams and expanding Kambi’s reach into new business areas. Abios is a major player in the esports betting landscape, driven by its in-house data management and technology.
The esports betting 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.
(All information was provided by Kambi)