Sports data provider Genius Sports and sports betting solutions platform Kambi have denied media reports about a potential merger of the two companies.
Yesterday saw speculation that Kambi was due to be acquired by Genius Sports, one of the global leaders in the sports technology and data market and a key pattern to several prominent tournaments.
This speculation led to Kambi’s share price rising 14% to SEK 131 (€12) on the Stockholm Nasdaq. However, the leadership of both companies were quick to deny any potential mergers.
Anders Ström, Kambi’s Chair of the Board, said: “While Kambi tends not to comment on rumour and speculation, I can confirm that Kambi is not engaged in any such discussions.”
A Genius takeover of Kamib would significantly elevate the former’s standing in the global betting sector. This is an industry which already maintains strong links to, delivering data and media content to a range of bookmakers.
As stated above, the London-based sportstech outfit has a range of prominent commercial sports partners. This includes the NBA in the US, and closer to home the Premier League via its deal with FootballDataCo, whilst also playing a role in upgrading the English top-flight’s Video Assistant Referee (VAR) technology.
Taking hold of Kambi would see Genius acquire a proven sportsbook platform leveraged by some significant gaming companies. The firm has various partnerships across Europe, Africa and both Americas.
The speculation comes off the back of financial growth for both firms. Kambi’s Q2 report outlined revenue growth of 24% year-over-year to €42.9m (€34.7m), whilst Genius grew 10% to $95m ($86.8m).
However, both sides have categorically denied that they are involved in any discussions. Mark Locke, Genius CEO, stated that ‘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,” he asserted.
