Kazakh-based investment and technology company Freedom Holding has acquired ChessBase, perhaps the most influential company in chess software and professional training tools over the past three decades.
The deal was confirmed in a press release on Thursday, with Freedom Holding announcing plans to invest €5 million ($5.9 million) into the Hamburg-based company. The investment will focus on modernizing the platform and integrating artificial intelligence, according to the press release.
“ChessBase is an exceptionally strong brand with a rich history and, arguably, one of the most important projects for the global chess community,” said Timur Turlov, CEO of Freedom Holding, adding:
ChessBase is an exceptionally strong brand with a rich history and, arguably, one of the most important projects for the global chess community.
—Timur Turlov
“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.”
The confirmation comes a week after German chess journalist Conrad Schormann reported on his blog Perlen von Bodensee that an agreement had been reached, citing sources close to the negotiations. At the time, ChessBase declined to comment publicly.
The German company has been the leading chess software company since it was founded by Frederic Friedel and Matthias Wullenweber in 1986. It revolutionized chess preparation by creating searchable databases, analytical tools, and training material. Its software, along with its high-quality database of more than 10 million over-the-board games, has been essential for club players as well as top grandmasters worldwide.
Freedom Holding said ChessBase will remain headquartered in Hamburg, and no job cuts are planned. The core team as well as its leadership will remain, according to the press release, with Rainer Woisin continuing as the managing director.
“This is great news for the chess world,” Woisin said. “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.”
This is great news for the chess world.
—Rainer Woisin
However, according to Perlen vom Bodensee, some key questions remain about the company’s long-term future, including where its software development will be based and whether additional leadership tied to the new ownership could be introduced.
The acquisition comes amid Freedom Holding’s rapidly growing involvement in the chess world, and the company said they are allocating more than $15 million to chess-related initiatives annually.
In recent years, the company has also funded several major FIDE events, such as the FIDE World Chess Championship 2023, FIDE World Rapid & Blitz Championship 2024, and the recently concluded FIDE Candidates Tournament 2026. Just last week, Freedom Holding was announced as FIDE’s official partner for its 2026 chess development program.
The company’s CEO and major owner is the 38-year-old chess-enthusiast Turlov, a Moscow-born billionaire who is currently worth an estimated $6.9 billion, according to Forbes. He was formerly a citizen of Russia and St. Kitts and Nevis in the Caribbean but renounced his citizenships to become a citizen of Kazakhstan in 2022.
He has served as the President of the Kazakhstan Chess Federation since 2023 and founded the International School Chess Federation (ISCF), a subsidiary organization of FIDE, in 2024.
Freedom Holding has faced scrutiny of its business operations. In 2023, CNBC reported that the company was under investigation by the U.S. Department of Justice and the Securities and Exchange Commission, over issues including compliance practices, insider stock activity, and an offshore affiliate allegedly linked to sanctioned individuals.
The scrutiny followed a report by Hindenburg Research that accused the company of a range of potential misconduct, including sanctions evasion, market manipulation, and improper handling of customer funds.
Freedom Holding denied the allegations and pointed to an independent investigation conducted by a U.S. law firm in 2024, which it said found the claims to be unfounded.
ChessBase India Unaffected
ChessBase India is not affected by the acquisition, as it operates as a separate entity. In a comment to Chess.com, founder IM Sagar Shah said the deal will not change anything for the company.
We at ChessBase India have deep gratitude for what ChessBase has enabled us to do. When Amruta and I went to Hamburg in 2014, it was Frederic Friedel, Rainer Woisin, and Matthias Wullenweber who believed in us and decided to reduce the cost of ChessBase softwares for the Indian subcontinent as per the PPP (Purchasing Power Parity) concept. This kind gesture has helped us to build ChessBase India.
Our main aim has always been to empower the Indian and world chess ecosystem with the work we do, and ChessBase has always been supportive of the same. They have never interfered in the workings of ChessBase India. We love each and every person who works in ChessBase, Germany. They are wonderful people.
With regards to Freedom Group acquiring ChessBase, we wish them the best. ChessBase India is a separate entity—a private limited company incorporated in India with different set of shareholders and so this does not change anything at ChessBase India.
