Freedom Holding acquires ChessBase in AI-driven strategy

Freedom Holding Corp. has announced the acquisition of ChessBase, a global leader in chess software, data and analytics, as part of its strategy to expand its technology-driven ecosystem.

The deal will see the company invest approximately €5 million in the platform’s development, with a focus on artificial intelligence integration and digital expansion.

ChessBase is considered one of the oldest and largest platforms in the global chess industry, specialising in databases, analytical tools and content for professional and amateur players.

Freedom Holding said it aims to strengthen ChessBase’s market position by deploying advanced technologies and integrating the platform into its broader SuperApp ecosystem.

“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.

The company confirmed that ChessBase headquarters will remain in Hamburg, while the existing core team will be retained, with no job cuts planned.

Instead, Freedom Holding expects to expand the workforce and invest further in technological development, supporting the platform’s long-term growth.

“This is great news for the chess world,” said ChessBase managing director Rainer Woisin.

“ChessBase, an important part of the chess heritage, is entering a secure new stage of development,” he added.

“Having an investor who genuinely loves chess is perhaps the best outcome imaginable,” he continued.

“I am confident that new and exciting opportunities lie ahead for the global chess community,” he concluded.

The acquisition reflects Freedom Holding’s broader strategy of investing in digital platforms, innovation and niche global markets.

Turlov is also actively involved in the development of the chess sector, serving as head of the Kazakhstan Chess Federation since January 2023 and as leader of the International School Chess Federation since September 2024, a subsidiary of FIDE.

The company allocates more than $15 million annually to support chess development and promotion, including partnerships with international organisations.

Kazakhstan has in recent years strengthened its position as a host for international chess championships, including school, junior and university competitions.

Freedom Holding regularly collaborates with FIDE and participates in organising and sponsoring major tournaments such as the World Rapid and Blitz Championships, as well as corporate and school-level events.

The group currently provides financial services across 21 countries, including Cyprus, the United States, Kazakhstan, Poland, Spain, Uzbekistan and Armenia.

Its principal executive office is located in New York, while its operations include Freedom Bank, Freedom Broker, Freedom Life and Freedom Insurance, alongside a growing digital and lifestyle segment.

This ecosystem also includes services such as Arbuz.kz, Freedom Ticketon and Freedom Travel, reflecting a diversified business model.

Freedom Holding’s shares are traded on NASDAQ, the Kazakhstan Stock Exchange and the Astana International Exchange, under the ticker FRHC, and the company is regulated by the US Securities and Exchange Commission.

Its stock is also included in the Russell 3000 Index, underlining its position in global capital markets.

The company’s flagship SuperApp platform, which has more than 5 million users, offers banking, insurance, travel booking, ticket purchases, grocery delivery and access to government services within a single interface.

Founded in Hamburg in 1986, ChessBase develops game databases, analytical software, training tools and online services and operates a major global chess news platform.

Its proprietary database is widely regarded as the industry standard for professional chess, supporting players and analysts worldwide.

The acquisition underscores the growing convergence between technology, digital ecosystems and specialised content platforms, as companies seek to expand their reach and capabilities.