The data giant Genius Sports has announced plans to acquire the free-to-play games developer and fan engagement studio FanHub Media.
This marks Genius’ first corporate acquisition since the company went public on the New York Stock Exchange (NYSE) last month.
FanHub, which was founded in 2012 provides a range of free-to-play games and fan engagement solutions which are used by a range of sports, media and betting stakeholders such as the NFL, MLB, News UK, Eurosport and bet365.
Genius to acquire FanHub
The transaction will see Genius add a free-to-play games offering to its existing sports betting technology arm, whilst FanHub’s engagement solutions will be integrated into Genius’ media division.
The parties involved chose not to disclose the terms of the deal, however, FanHub will now become Genius’ first major acquisition since going public on 20 April.
According to the announcement, subject to customary closing conditions, the transaction is expected to close in the second quarter of 2021.
Genius Sports CEO Mark Locke said: “The acquisition of FanHub will provide our sports, betting and media partners with exciting new content platforms that entirely complement our established data, video and marketing solutions.
“This transaction is expected to expand Genius Sports’ global audience and reach while accelerating the convergence of sports, betting and media to engage the modern fan.”
“We are delighted to join the Genius Sports family and excited about the potential opportunities for our clients and staff,” said Chairman of FanHub, Tim Lamb.
CEO and Founder of FanHub, Andrew Cronyn added: “We couldn’t imagine a more complementary partner and together we will offer an even richer fan experience, generate more engagement and offer value to our partners – and fans.”
This deal comes after Genius went public on the NYSE last month via a business combination with the special purpose acquisition company dMY Technology II.
Genius goes public
Genius first announced its plans to go public on the NYSE in October 2020 through a reverse merger with dMY Technology II.
Last month, Genius and dMY Technology completed their transaction and went public on the NYSE.
Prior to going public, the sports data provider revealed it would be discontinuing its Genius Sports Media and BetGenius brands and these solutions would be rehomed under the Genius Sports umbrella.
The combined operation currently trades on the exchange under the “GENI” ticker and went public with a valuation of $1.5bn.
Speaking on its US listing, Mark Locke, Chief Executive Officer and Co-Founder of Genius Sports, said: “As Genius Sports enters an exciting new chapter in its history, we are uniquely positioned at the heart of the world’s sports, betting, and media ecosystem.
“Our merger with dMY II and listing on the NYSE are a testament to the enormous opportunity ahead of us as we leverage our unique scale, drive innovation and deliver products that help our partners create new and immersive experiences for sports fans around the world.”