Genius Sports acquires Legend in $1.2 billion deal

The company is eyeing Legend’s monetization of sports audiences across its network, citing « world-class marketing technology powering owned and operated digital properties » and partnerships with major media brands such as Sports Illustrated and Yahoo Sports. Genius Sports appears to be looking to expand its reach even further by leveraging Legend’s relationships with existing sportsbooks, gambling products and advertisers as the sports betting industry continues to flourish in the US.

« This transaction accelerates our strategic and financial goals, increases fan monetization and builds a fully integrated sports and gaming media network, » said Genius Sports CEO Mark Locke. « For Genius Sports and our global partners, it provides more data, more audience, more inventory and greater monetization to sports fans. The acquisition of Legend will drive higher margins and stronger free cash flow, positioning Genius Sports to immediately transform the market and increase the size and scale of our business. »

What will this partnership look like in practice?

The press release suggests that Genius Sports will look to blend the Legend network into FANHub, the company’s sports fan activation platform.

« Joining forces with Genius Sports brings together two world-class teams, unlocks unparalleled growth opportunities for our partners and products, and gives us an even stronger platform to scale, » said Nick Kisberg, Founder of Legend. « I’m extremely proud of what we’ve built and the decades of hard work that have gotten us here today. »