Genius Sports activities to listing on NYSE
After final week’s main partnership announcement with the Nationwide Soccer League (NFL), sports activities knowledge and know-how firm Genius Sports activities Group has unveiled its new company model and identification prematurely of its approaching itemizing on the New York Inventory Trade (NYSE).
In official firm information, the British agency disclosed that its full sports activities tech portfolio and knowledge belongings have been consolidated and will now exist underneath one model, “Genius Sports activities.” The transfer to a brand new identification displays the “speedy convergence” of Genius’ know-how merchandise.
The London-headquartered group goals to steer in all important tech disciplines associated to reside knowledge, wagering, sports activities integrity, media rights, and offering next-generation improvements. As such, the Betgenius and Genius Sports activities Media manufacturers have been discontinued, with the agency as a substitute deciding to accommodate its product growth divisions and enterprise options into 4 product areas, together with Sportstech, Video, Sportsbook, and Media & Engagement, underneath the brand new Genius Sports activities umbrella.
“As we enter a brand new period as a public firm on the NYSE, the time is true to consolidate our providing underneath the one Genius Sports activities model,” stated Mark Locke, Group Chief Government Officer for Genius Sports activities.
“For greater than 20 years, we’ve got by no means been afraid to stroll our personal path and our new branding will create a definite place for us out there.”
Genius Sports activities is anticipated to finish its merger, which was first introduced in October 2020, with publicly traded particular goal acquisition firm dMY Know-how Group, Inc. II (NYSE: DMYD), and can now see it commerce on the NYSE underneath the company ticker “GENI.”
As talked about, late final week the UK firm secured a serious multi-year partnership with the NFL, making it the unique international provider of real-time statistics and proprietary knowledge alongside reside audio-visual sport feeds from the celebrated American soccer league. The info rights deal, which sees Genius Sports activities take over for Sportradar, may very well be valued at $1 billion, based on a CNBC supply.
“This unified strategy will assist strengthen our worth proposition, serve our companions’ wants and articulate our imaginative and prescient of making personalised fan experiences by way of the convergence of sports activities, betting, promoting and streaming.”
The tie-up adopted Genius Sports activities’ announcement that it had appointed sports activities business pioneer David Levy as its new Chairman. In his new function, the previous President at Turner Broadcasting, Inc., will probably be answerable for main the Board’s oversight of the corporate’s operations and technique. After a 30-year tenure at Turner, Levy left the American tv and media conglomerate in spring 2019 following an govt shakeup after Time Warner was acquired by AT&T.
In April 2020 it was reported that Levy had been employed by New York-headquartered Raine Group, a worldwide service provider financial institution targeted solely on know-how, media and telecommunications, to establish and execute funding and advisory alternatives.