Kazakh-based Freedom Holding has acquired ChessBase, the leading chess software company, with a €5 million investment aimed at modernization and AI integration. The Hamburg-based firm will retain its headquarters and leadership. The deal was confirmed in a press release on Thursday.
Freedom Holding, a Kazakhstan-based investment and technology firm, announced the acquisition of ChessBase on Thursday. The €5 million ($5.9 million) investment will modernize the platform and incorporate artificial intelligence, according to the press release. ChessBase, founded in 1986 by Frederic Friedel and Matthias Wullenweber, has long provided essential databases, analytical tools, and training materials used by players worldwide, including over 10 million over-the-board games in its database. The company will stay headquartered in Hamburg, with no planned job cuts and Rainer Woisin remaining as managing director. Freedom Holding CEO Timur Turlov described ChessBase as 'an exceptionally strong brand with a rich history and, arguably, one of the most important projects for the global chess community.' He noted that the partnership would leverage the company's more than 11 million clients across over 20 countries. Woisin welcomed the news, stating, 'Having an investor who genuinely loves chess is perhaps the best outcome imaginable.' Freedom Holding has deepened its chess involvement, investing over $15 million annually and sponsoring FIDE events like the 2023 World Chess Championship, 2024 Rapid & Blitz Championship, and 2026 Candidates Tournament. Last week, it became FIDE's partner for the 2026 chess development program. Turlov, a 38-year-old Moscow-born billionaire and Kazakhstan Chess Federation president since 2023, founded the ISCF in 2024. The company faced U.S. investigations in 2023 over compliance and sanctions issues following a Hindenburg Research report, but denied allegations and cited a 2024 independent probe that cleared it. ChessBase India operates separately and remains unaffected, per founder Sagar Shah.
