Takeover Speculation Denied by Kambi and Genius Sports
Reports have surfaced suggesting that sports data and technology provider Genius Sports is in the process of attempting a takeover of Kambi. Both companies, however, have firmly denied these claims.
No Negotiations Taking Place
According to the reports, Genius Sports allegedly approached Kambi with an aim to expand its managed trading services. In response, Kambi’s Chair of the Board, Anders Ström, addressed the speculation, stating:
“While Kambi tends not to comment on rumour and speculation, I can confirm that Kambi is not engaged in any such discussions.”
This sentiment was echoed by Genius Sports’ CEO, Mark Locke, who emphasized that there were no talks between the two companies:
“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.”
Market Reaction to the News
Despite the denials from both parties, the rumours appeared to have a positive effect on Kambi’s stock price. On September 4, the company’s share price rose by 14.8%, reaching 131.50 SEK ($12.74), a significant increase from the previous day’s closing price of 114.50 SEK.
Background Context
This speculation arises just two months after Kambi’s Board of Directors decided to nullify its 2027 financial targets due to underperformance in regulated markets.
The potential for a major acquisition deal might have been linked to the company’s challenges in reaching its financial objectives.
However, with both Kambi and Genius denying the claims, it seems no such takeover is on the horizon for now.
In the context of other recent industry moves, the rumoured deal had similarities to Betsson Group’s acquisition of several verticals from FDJ Group’s Sporting Solutions, aimed at strengthening its sportsbook operations.
However, it appears this particular scenario with Kambi and Genius Sports is purely speculative.
