Genius Sports To Go Public On New York Stock Exchange After Merger
Genius Sports has announced that it will go public on the New York Stock Exchange after entering into a merger agreement with US-based special purpose acquisition company (SPAC) dMY Technology Group.
Boards of both businesses unanimously approved the deal, which will see the combined companies worth $1.5bn (£1.15bn).
According to Genius Sports, CEO Mark Locke will continue in his role, while dMY chairman Harry You, along with its CEO Niccolo de Masi, will join the new company’s Board of Directors.
“Genius Sports Group created the market for official data across all tiers of sports, helping fuel our sportsbook partners’ ever-increasing range of products,” said Mark Locke. “This transaction will help us continue to expand and strengthen our position as a nexus of the global sports, betting and media ecosystem.”
Niccolo de Masi added: “Elemental data provider Genius Sports Group benefits from the growth of all participants in the global sports betting market. Mark Locke has pioneered the provision of official rights and live data which have been instrumental in building the modern sports betting market.
“The company has a strong track record of growth and we are very excited by the opportunities for further expansion in this rapidly growing segment.”
Genius Sports acquires data from over 500 sporting leagues, including the Premier League and NBA as well as wider FIFA and FIBA competitions, supplying it to sport betting operators across the world.
