Online sports betting provider Kambi Group has acquired front-end technology specialist Shape Games for an initial €38.5 million (C$50 million). The inclusion of a performance-related earnout could potentially bring the total consideration to €78.1 million (C$102.3 million), all of which will be paid in cash.
Headquartered in Denmark, Shape Games’ front-end technology supports customers by driving customer engagement and retention, with the provider counting Danske Spil, Norsk Tipping, BetWarrior, and JACK Entertainment among its clients.
The acquisition builds on an established partnership between the two businesses, with Kambi and Shape Games having worked together on tender processes to secure turnkey contracts. Kambi said Shape Games’ fully native front-end technology will complement its sportsbook and existing front-end capabilities, strengthening its capabilities in the mobile sports betting space.
Shape Games will continue to provide its services on a standalone basis to all operators.
“I’ve always been clear on our intention to acquire technology and talent that will complement and enhance our sportsbook proposition, and I have no doubt Shape Games will do just that,” Kambi co-founder and chief executive Kristian Nylen said. “While Shape Games will continue to grow and offer services on a standalone basis in line with our plans to offer a suite of modularised products, it is the ability to offer a combination of Kambi’s and Shape Games’ technology to our partners which really excites us and solidifies our position as the clear leader within the sports betting ecosystem.”
Shape Games co-founder and chief executive Christian Risom added: “Shape Games and Kambi have been working closely side by side for years now and it is exciting to take this partnership to new levels. Kambi’s modular approach to the market allows us to form a profound and tight-knit integration with their sportsbook all the while pursuing opportunities with other sportsbook partners. From our perspective, this represents the best of both worlds for any customer out there.”