Sports IQ

1 February 2021 By Anna Szymanski

Genius Sports, which collects live data for betting shops, is going public with a blank-check company for $1.5 bln. As U.S. legalized gambling grows and teams diversify revenue, data should become more valuable. Gaining an early advantage gives it an edge over future competitors.

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Genius Sports, which primarily collects live sports data used by sportsbooks, leagues and media outlets, on Jan. 15 filed a registration statement with the U.S. Securities and Exchange Commission in advance of going public through a merger with dMY Technology Group Inc II, a special purpose acquisition company. The transaction, which was originally announced on Oct. 27, has been unanimously approved by the boards of directors of both companies. It values the UK sports data firm at around $1.5 billion. The deal will close in the first quarter of 2021.

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