Apax Partners cashes in Genius Sports shares
The private equity firm has liquidated 20 million shares in the New York-based data company, marking the end of a six-year relationship
Apax Partners no longer holds any shares in data giant Genius Sports after fully monetising its equity interest in the company.
The private equity firm sold 20 million ordinary shares which it held in Genius Sports for an undisclosed amount.
Apax Partners first became Genius Sports’ majority owners in September 2018, aiding the latter in its growth ever since.
The company first announced plans to sell its Genius Sports shares in September 2023, leading to a fall in the data giant’s share price at the time.
Gabriele Cipparonne, partner at Apax Partners, left his role on the board of Genius Sports in February 2024.
Genius Sports co-founder and CEO Mark Locke said: “Apax has been a tremendous partner to Genius Sports, and we are grateful for their valuable insight and expertise over the last six years.
“Today marks the conclusion of a very successful partnership, and we look forward to welcoming this next chapter with the ongoing support of our high-quality institutional shareholders.”
Genius Sports reported a 14.5% decrease in adjusted EBITDA for Q1 2024, despite enjoying a 23% year-on-year revenue.