Genius Sports has agreed to buy FanHub Media, a developer of free-to-play (FTP) games and a fan engagement studio, in its first corporate acquisition as a NYSE-listed company.
Genius will add an FTP games offering to its current sports betting technology unit as part of the transaction, while FanHub’s fan communication solutions will be integrated with Genius’ media division.
First M&A buyout
Following its NYSE listing on April 20 – which exceeded the firm’s $1.5 billion target valuation – FanHub became the first M&A buyout of Genius.
Genius CEO Mark Locke updated investors, highlighting FanHub as the perfect partner to improve Genius’ three core business segments of wagering technology, data/media solutions, and sports marketing optimisation.
“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.”
FTP product’s users
The NFL, MLB, Betway, bet365, Eurosport, and News UK are among the sports, media, and betting stakeholders that use FanHub’s suite of FTP products and fan-engagement solutions, which was established in 2012.
FanHub currently offers over 50 proprietary-built products that are integrated with its clients’ wide range of services.
Chairman of FanHub, Tim Lamb said: “We are delighted to join the Genius Sports family and excited about the potential opportunities for our clients and staff.
“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.”
Subject to customary conditions, Genius expects to complete its acquisition of FanHub in the second quarter of 2021 trading.