Kambi Acquires Shape Games, Eyes Tech Capability Boost
Kambi Group plc is acquiring Danish B2B and iGaming developer Shape Games for $38.45 million in an all-cash deal. The acquisition also includes a performance-related earnout that could bring the final purchase price to $78 million. Kambis sportsbook is licensed and regulated in the UK. Its customers include ATG, Churchill Downs Incorporated, Kindred Group, LeoVegas, Penn National Gaming, and Rush Street Interactive. K Ambi has more than 1,000 employees based principally in Malta, Sweden, the US and the Malta.
Shape will enhance its range of B2B products in the online sports betting sector. Kambi needs to ramp up its technological capabilities to meet the growing demand from U.S. operators for unique and differentiated mobile wagering platforms. The US sportsbook market is experiencing double-digit growth and will continue to see sportsbooks spend heavily to gain market share in newly launched states.
Shape Games was acquired by Kambi last Thursday. Shape Games is a front-end tech provider for sports betting. Its clients include RedBull, Bang & Olufsen, Credit Suisse, Danske Spil, and Norsk Tipping. In 2021, Shape reported earnings of $7.6 million and forecast revenue will double by 2022. K Ambi's platforms will be upgraded by integrating Shape tech. KAmbi will continue to provide services on a standalone basis to all operators.
Shape Games has signed a deal with Oaklawn Racing Casino Resort in Arkansas to provide retail and online sportsbook solutions. Kambi will provide digital betting technology to OakLawn, including Bet Builder.
