Kambi Takeover Rumors Refuted by Genius Sports and Kambi Chairman
Recent rumors suggesting that Genius Sports, a major data provider for sportsbooks, is considering acquiring Sweden-based Kambi have been firmly denied by both parties.
Speculation on Acquisition Dismissed by Both Companies
Anders Ström, chairman of the Kambi board of directors, issued a statement clarifying that “Kambi is not engaged in any such discussions”, putting an end to the speculation.
Genius Sports’ CEO, Mark Locke, echoed this sentiment, stating, “As policy, we do not comment on unfounded and ill-informed rumors. To prevent any further speculation, we can confirm that we are not involved in any discussions of this nature with Kambi.”
Persistent Takeover Rumors Surrounding Kambi
Despite these denials, rumors of Kambi being a potential acquisition target have been circulating since at least the second quarter of 2023.
Several factors have contributed to the ongoing speculation. In 2022, Kambi eliminated a poison pill provision, which typically acts as a defense mechanism against hostile takeover attempts by diluting the purchasing power of an unsolicited bidder. The removal of this provision makes Kambi more accessible to potential buyers.
Adding to the chatter, Kambi recently withdrew its long-term financial targets, partially due to regulatory challenges in Brazil. This led to the resignation of former CEO Kristian Nylén, fueling further takeover rumors. High-level executive departures often serve as a catalyst for acquisition speculation.
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