Genius Sports has agreed to acquire free-to-play (FTP) games developer and fan engagement studio FanHub Media, undertaking its first corporate acquisition as an NYSE-listed enterprise.
The deal will see, Genius add an FTP games offering to its existing sports betting technology unit, whilst FanHub’s fan engagement solutions will be merged with Genius media division.
Dealmakers chose not to disclose deal terms as FanHub becomes the first M&A buyout of Genius following its 20 April listing on the NYSE – which surpassed the firm’s $1.5 billion target valuation.
Updating investors, Genius CEO Mark Locke, underscored FanHub as the ideal partner to strengthen Genius three core business segments of wagering technologies, data/media solutions and marketing optimisation for sports.
“The acquisition of FanHub will provide our sports, betting and media partners with exciting new content platforms that entirely complement our established data, video and marketing solutions,” remarked Locke.
“This transaction is expected to expand Genius Sports’ global audience and reach while accelerating the convergence of sports, betting and media to engage the modern fan.”
Founded in 2012, FanHub’s suite of FTP products and fan-engagement solutions are used by a diverse range of sports, media and betting stakeholders including the NFL, MLB, Betway, bet365, Eurosport and News UK.
At present, FanHub services over 50 proprietary-built products integrated with its clients diverse range of offerings.
“We are delighted to join the Genius Sports family and excited about the potential opportunities for our clients and staff,” said Chairman of FanHub, Tim Lamb.
“We couldn’t imagine a more complementary partner and together we will offer an even richer fan experience, generate more engagement and offer value to our partners – and fans.”
Genius anticipates closing its acquisition of FanHub during the second quarter of 2021 trading, subject to customary conditions.