[bsa_pro_ad_space id=1 link=same] [bsa_pro_ad_space id=2]

Skip to Content

SPORTS BETTING

US – Genius Sports acquires Second Spectrum in $200m deal

By - 7 May 2021

Genius Sports has entered into a definitive agreement to acquire Second Spectrum, a provider of data tracking and visualisation solutions.

The aggregate purchase price for the acquisition is $200m, subject to customary adjustments. The purchase price will be paid at closing in cash and shares of Genius Sports common stock.

Consummation of the transaction is subject to customary closing conditions and expected to take place in the second quarter of 2021.

The business is expected to be EBITDA positive post-integration and additional details and quantification on synergies will be provided in Genius Sports’ upcoming Q1 earnings call.

The acquisition combines two sports data and technology companies to create a complete end-to-end offering for the sports, betting and media ecosystem.

Second Spectrum was founded in 2013 and has become a fully integrated sports AI provider, offering tracking, analytics and data visualisation services.

“Genius is committed to capturing and distributing the fastest, most accurate and secure official sports data.

“This acquisition supports our long-term strategic vision of utilising AI tracking, enhanced data insights and transformative technology to revolutionise the sports data landscape for the fans, our customers and sports and media partners,” said Genius Sports CEO Mark Locke.

“Adding additional fan engagement technology to our already diverse and cutting-edge portfolio of products and services will create compelling, unique content, that will transform user experiences and create additional revenue streams for our customers. We are delighted to welcome Rajiv and his team to the Genius Sports family.”

“We are thrilled to join the Genius Sports family,” added Second Spectrum CEO Rajiv Maheswaran.

“Mark and his incredible team have built the fastest growing sports data platform on the planet by better serving sports leagues, fans and their partners by leveraging technology in novel and compelling ways.

“Second Spectrum’s mission to be at the forefront of innovation in the sports ecosystem in combination with the scale and drive of Genius Sports will rapidly accelerate how content is created and experienced and bring significant value for our partners and clients.“

Share via
Copy link