American Marconi Wireless News - Freedom Holding Corp. Acquires ChessBase, a Market Leader in Chess Software, Data and Content

"ChessBase is an exceptionally strong brand with a rich history and, arguably, one of the most important projects for the global chess community. Together with the team that created the platform and continues to run it, we believe we can make substantial progress in modernizing the service, enriching its functionality through artificial intelligence, and integrating it into our digital ecosystem through SuperApp," said Timur Turlov, Chief Executive Officer of Freedom Holding Corp.

Turlov 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."

Turlov added that the investment will be directed toward modernizing the platform and further developing and expanding its technological architecture. At the same time, ChessBase's headquarters will remain in Hamburg, and the core team will remain in place. No job cuts are planned. On the contrary, the company expects to invest significantly in the business and recruit additional staff as the platform develops further.

"This is great news for the chess world. ChessBase, an important part of the chess heritage, is entering a secure new stage of development. Having an investor who genuinely loves chess is perhaps the best outcome imaginable. I am confident that new and exciting opportunities lie ahead for the global chess community," said Rainer Woisin, Managing Director of ChessBase.

Timur Turlov, Chief Executive Officer of Freedom Holding Corp., is also actively involved in the development of the chess industry and educational initiatives. Since January 2023, he has served as head of the Kazakhstan Chess Federation, and since September 2024, he has led the International School Chess Federation (ISCF), a subsidiary organization of FIDE, the International Chess Federation.

Freedom Holding Corp. actively invests in the development and promotion of chess, allocating more than $15 million annually to these efforts. In recent years, Kazakhstan has significantly strengthened its position as an international venue for school, junior, and university chess championships. Freedom Holding regularly partners with FIDE on projects and participates in organizing and sponsoring international tournaments, including the World Rapid and Blitz Championships, as well as corporate and school championships.

About Freedom Holding Corp.

Freedom Holding Corp. provides financial services in 21 countries, including Kazakhstan, the United States, Cyprus, Poland, Spain, Uzbekistan, and Armenia. The Company's principal executive office is located in New York City. In Kazakhstan, Freedom is actively developing its financial and digital ecosystem, which includes Freedom Bank, Freedom Broker, the insurance companies Freedom Life and Freedom insurance, as well as a lifestyle segment that features Arbuz.kz, Freedom Ticketon, and Freedom Travel. Freedom Holding Corp. shares are traded on the U.S. technology exchange NASDAQ, the Kazakhstan Stock Exchange (KASE), and the Astana International Exchange (AIX) under the ticker symbol FRHC. Freedom Holding Corp. is regulated by the U.S. Securities and Exchange Commission (SEC) and the common stock is included in Russell 3000 Index.

About SuperApp

SuperApp is Freedom Holding Corp.'s flagship application, with more than 5 million users. In addition to traditional banking services, the app enables users to purchase insurance, buy tickets to events, order groceries and other goods for delivery, book airline tickets and travel packages, and access a broad range of government services.

About ChessBase GmbH

ChessBase GmbH is a German company founded in Hamburg in 1986. It develops and sells game databases, analytical software, training products and online services for chess players, and also operates its major chess news platform. Its proprietary chess database has become the industry-standard database powering professional chess worldwide. The company is widely recognized as a global leader in its niche and remains one of the leading brands in professional chess training.

Contact
Head of Public Relations
Natalia Kharlashina
Freedom Holding Corp.
[email protected]
+77013641454

SOURCE: Freedom Holding Corp.

View the original press release on ACCESS Newswire

A.Mahlangu--AMWN