Genius Sports Group, which supplies professional leagues, teams and sports entities with data, will soon be acquired by British private equity firm Apax Partners. The deal will give the sports data firm a cash infusion that will help it to pursue expansion abroad.
Genius Sports is looking both to fuel growth and possibly acquire other businesses to better position it in the ultra-competitive sports data market. Currently, Genius collects and distributes data to more than 300 sports organizations around the world.
Genius’ management will be retained and will hold a minority position in the company. The sale is expected to close before the end of the current quarter, which means it will be finalized right at the beginning of the fall sports season.
Of particular relevance is Genius’ Betgenius technology, which is used by 150 regulated sports bookmakers globally. With the recent legalization of sports betting in the U.S., Genius’ data should come into play in myriad ways throughout the fall season, making the impending acquisition even more important.
SportTechie Takeaway
Genius is being acquired at a time when American sports books are gearing up for the return of football and European soccer is about to kick off a new season. The need and competition for officially sanctioned data will be extreme, and Bloomberg reported that Genius rival Sportradar has already secured extra cash in exchange for a minority stake from the Canada Pension Plan Investment Board and private equity fund TCV.