Deal combines Genius league data with target’s real-time fan activation platform Acquisition seen supporting Genius media business Genius Sports (NYSE: GENI) said Thursday it acquired Sports Innovation Lab in a transaction aimed at lifting the buyer’s burgeoning media unit. Genius Sports appears on the screens of the NYSE. The company is buying Sports Innovation Lab. (Image: Genius Sports) Financial terms of the acquisition weren’t disclosed, but there’s chatter among analysts covering Genius Sports that the purchase was paid for using a small percentage of the sports betting data provider’s more than $220 million in cash on hand. It’s the latest sign Genius is committed to supporting its advertising/media arm. The acquisition fast-tracks the expansion of Genius Sports’ media business, combining the most comprehensive official game data with the deepest fan intelligence available,” according to a statement issued by the buyer. Genius’ FANHub platform, which was acquired four years ago, combined with Sports Innovation Lab, could be a potent union because…Â Read More
Category: Financial, Mergers and Acquisitions, Technology, mergers and acquisitions, technologyÂ
Source: Casino.org
