NEW YORK & LONDON--(BUSINESS WIRE)--Genius Sports Limited (NYSE: GENI) (“Genius Sports” or “the Company”), the official data, technology and commercial partner that powers the ecosystem connecting sports, betting and media, announced today that it has agreed to acquire FanHub Media Holdings Pty Ltd (“FanHub”), a leading provider of free-to-play (F2P) games and fan engagement solutions. Deal terms were not disclosed.
FanHub, founded in 2012, provides a suite of technology solutions built around three core service offerings: games, betting and social activation. As a global leader in F2P, collectively the FanHub services have become a core feature for gaming operators to engage and retain customers. FanHub’s operations span Australia, the U.K., U.S., and Ukraine.
As part of the transaction, Genius Sports will also acquire FanHub's suite of F2P games, including fantasy sports, trivia, bracket challenges, pick 'em, and polling games. These will complement Genius Sports' established offering to sports leagues and federations, sportsbooks, media companies and broadcasters worldwide. FanHub works in partnership with some of the largest companies across Genius Sports’ ecosystem, including the NFL, MLB, MLS, Betway and PointsBet.
Building on Genius Sports' official data capabilities, the business will integrate FanHub’s solutions across its media services, delivering proven content solutions that help drive customer activity, fan engagement, sponsor activation, and lower cost per acquisition. The new portfolio of F2P games will also help Genius Sports to deliver tailored marketing campaigns alongside live odds, rich data and statistics, video highlights and messaging.
“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," said Genius Sports CEO Mark Locke. “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.”
The transaction is expected to close in the second quarter of 2021, subject to customary closing conditions.
On April 20, 2021, Genius Sports completed its previously announced business combination (the “Business Combination”) with dMY Technology Group, Inc. II (“dMY II”). The Business Combination was approved at a special meeting of dMY II’s stockholders held Friday, April 16. Beginning on Wednesday, April 21, 2021, Genius Sports’ ordinary shares and warrants began trading on the New York Stock Exchange (the “NYSE”) under the ticker symbols “GENI” and “GENI WS”, respectively. With over $145 million in cash and no financial debt on the balance sheet, Genius Sports is poised to continue to capitalize on the considerable growth expected in the global online sports betting market.
About Genius Sports
Genius Sports is the official data, technology and commercial partner that powers the global ecosystem connecting sports, betting and media. We are a global leader in digital sports content, technology and integrity services. Our technology is used in over 150 countries worldwide, empowering sports to capture, manage and distribute their live data and video, driving their digital transformation and enhancing their relationships with fans.
We are the trusted partner to over 400 sports organizations globally, including many of the world’s largest leagues and federations such as the NFL, EPL, FIBA, NCAA, NASCAR, AFA and PGA.
Genius Sports is uniquely placed through cutting-edge technology, scale and global reach to support our partners. We are more than just a technology Company, we build long-term relationships with sports at all levels, helping them to control and maximize the value of their content while providing technical expertise and round-the-clock support.
FanHub is the leading global provider of digital fan engagement products and free to play games. FanHub’s suite of products are used by an unrivalled set of Tier 1 sports, media and gaming industry clients, including the NFL, MLB, MLS, MotoGP, Euroleague, Cricket Australia, Betway, PointsBet, Bet365, the Telegraph Media Group and News Corp. The present set of over 50 products are integrated with partners’ offerings to provide a seamless user experience, across multiple geographies and languages.
FanHub assists partners in growing and activating their fan base, and turning casual fans into super fans. We help them develop a highly engaging suite of digital assets, driving to fans and sponsors alike. FanHub is led by CEO and Co-Founder, Andrew Cronyn and a talented team of executives and developers in offices in the USA, UK, Ukraine and Australia.
Certain statements in this press release may be considered “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s expectations with respect to future performance and anticipated financial impacts of the acquisition of FanHub. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements.
These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the Company and its management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) the ability to recognize the anticipated benefits of the acquisition of FanHub, which may be affected by, among other things, competition, the ability of the Company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (2) costs related to the acquisition of FanHub; (3) changes in applicable laws or regulations; (4) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; and (5) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s filings with the SEC, including the Registration Statement on Form F-4 relating to the Business Combination.