Kambi Responds to Speculation of Potential Acquisition by Genius Sports

Recent reports suggest that Kambi, the Swedish sports betting supplier, is the target of a potential takeover by Genius Sports.

However, both companies have denied these claims. According to the reports, Genius Sports allegedly approached Kambi in an effort to "expand its own managed trading offering."

In response to the rumors, Kambi issued a statement refuting any ongoing negotiations. Anders Ström, Chair of the Board at Kambi, stated, "While Kambi tends not to comment on rumour and speculation, I can confirm that Kambi is not engaged in any such discussions."

Despite the denial, Kambi’s stock price reacted positively to the news. By September 4 at 11:51 AM, Kambi’s share price had risen to 131.50 SEK ($12.74), marking a 14.8% increase from its previous closing price of 114.50 SEK on September 3.

Genius Sports also responded to the acquisition rumors. CEO Mark Locke emphasized, "As policy, we do not comment on unfounded and ill-informed rumours. To prevent any further speculation, we can confirm that we are not involved in any discussions of this nature with Kambi."

The speculation arises just two months after Kambi’s Board of Directors decided to nullify its 2027 financial targets, citing regulatory challenges in key global markets as the cause of recent underperformance.

If such a deal were to occur, it would mirror a recent transaction in the sports betting industry, where Betsson Group acquired several verticals from FDJ Group’s Sporting Solutions, aimed at enhancing its B2C and B2B sportsbook operations. 

By fLEXI tEAM