Billion Dollar Buy for Genius Sports

London-based sports data tech firm Genius Sports is to acquire Legend, a global digital sports and gaming media network which helps clients to monetize their assets. The deal values Legend at up to $1.2 billion, the last quarter of which is dependent on near future results.

Genius serves as a data, tech and broadcast partner for the global sports, betting and media ecosystem. Its targeting and fan base insights offer includes solutions such as FanHub:ID identity management, which aggregates consumption data across online, mobile and connected TV platforms. In September it acquired fan data specialist Sports Innovation Lab (SIL), and in November it partnered with the sports division of Publicis, aiming to 'reshape the future of fan engagement' via its proprietary sports advertising platform FANHub.

Genius says the latest acquisition will bring 'a large, highly engaged sports and gaming audience into its media ecosystem, along with predictable revenue. ' The combined firm is expected to achieve around $1.1 billion in revenue and $320-330 million EBITDA. Legend monetizes sports audiences through a scaled media network, with marketing technology powering owned and operated digital properties; and syndicates sports and betting content across publications including Sports Illustrated and Yahoo Sports.

Genius CEO Mark Locke says the acquisition delivers 'more data, more audience, more inventory and greater monetization of sports fans.' He comments: 'This deal accelerates our strategic and financial objectives, supercharges fan monetization, and builds a fully integrated sports and gaming media network... The acquisition of Legend will drive higher margins and stronger free cash flow, positioning Genius Sports to immediately transform the market and grow the size and scale of our business.' Nick Kisberg, founder of Legend, adds: '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.'

Web sites: www.geniussports.com and www.l1.com .