Hamburg, Germany. Freedom Holding Corp. announced the acquisition of ChessBase, describing it as part of a strategy to expand its technology-driven ecosystem, with an investment of about €5 million planned for development.
Investment and development plans
Freedom Holding said the investment will focus on integrating artificial intelligence and supporting digital expansion. It said it aims to strengthen ChessBase’s market position by deploying advanced technologies and integrating the platform into its broader SuperApp ecosystem.
About ChessBase
ChessBase is described by Freedom Holding as one of the oldest and largest platforms in the global chess industry, specialising in databases, analytical tools and content for professional and amateur players.
Executive comments
“ChessBase is an exceptionally strong brand with a rich history and one of the most important projects for the global chess community,” said Freedom Holding Corp. chief executive officer Timur Turlov.
“Together with the team that created the platform and continues to run it, we believe we can make substantial progress in modernising the service, enriching its functionality through artificial intelligence, and integrating it into our digital ecosystem through SuperApp,” he added.
“I believe this partnership will strengthen ChessBase’s position not only among professional chess players but will also open up new opportunities by giving our clients direct access, with more than 11 million clients across the group in more than 20 countries,” he continued.
Headquarters and staffing
The company said ChessBase headquarters will remain in Hamburg and that the existing core team will be retained, with no job cuts planned. Freedom Holding said it expects to expand the workforce and invest further in technological development to support the platform’s long-term growth.
ChessBase reaction
“This is great news for the chess world,” said ChessBase managing director Rainer Woisin.
What do you expect artificial intelligence integration to add to ChessBase’s tools and services?
