Genius Sports targets “transformative” technology in $200m Second Spectrum deal
Sports data giant builds on FanHub acquisition after going public with purchase of US-facing data tracking provider
Genius Sports has agreed a $200m deal to acquire Los Angeles-headquartered data tracking provider Second Spectrum.
The now publicly listed data giant confirmed the purchase price will be paid partly in cash and partly in shares of Genius Sports common stock.
The acquisition is expected to close in Q2 and is the firm’s second major deal in the space of a week following the purchase of free-to-play games provider FanHub for an undisclosed fee.
Second Spectrum currently serves as the official data tracking provider for the UK’s Premier League, as well as the NBA and Major League Soccer (MLS).
The firm uses advanced AI and computer vision technology to capture precise ball and player location data.
In addition, Second Spectrum has partnerships with ESPN, BT Sport, and Bally Sports to offer augmented reality features for select football and basketball games.
The business has also formed several fan-led partnerships with sports teams including the NBA’s Los Angeles Clippers, who are owned by former Microsoft CEO Steve Ballmer, a backer of Second Spectrum.
While Second Spectrum is based in LA, the start-up also maintains offices in London, New York, Shanghai and Lausanne in Switzerland.
“This acquisition supports our long-term strategic vision of utilising AI tracking, enhanced data insights and transformative technology to revolutionise the sports data landscape for the fans, our customers and sports and media partners,” said Genius Sports CEO Mark Locke.
“Adding additional fan engagement technology to our already diverse and cutting-edge portfolio of products and services will create compelling, unique content that will transform user experiences and create additional revenue streams for our customers.”
In April, Genius Sports went public via a $1.5bn SPAC merger with US-based investment firm dMY Technology Group II.
At the time of the deal, Genius revealed it would target growth in the US via M&A.
Oakvale Capital LLP served as advisers to Genius Sports on the transaction.