Genius Sports closes $1.5bn merger with dMY II

21 Apr 2021

By: Sport Industry Group

Genius Sports Group has confirmed the completion of its merger with dMY II after the move was approved at a special meeting of the latter’s stockholders, which was held on Friday 16th April.

The combined company has changed its name to Genius Sports Limited and its ordinary shares and warrants will trade on the New York Stock Exchange under the ticker symbols ‘GENI’ and ‘GENI WS’.

Genius Sports CEO and Co-Founder Mark Locke will continue to lead the business, a continuity which had been previously confirmed, while the Board of Directors will initially consist of eight members, including Locke, Chairman David Levy, dMY II Chairman Harry You and CEO Niccolo de Masi. They will be joined by Apax Partners’ Albert Costa Centena, Gabriele Cipparrone and Roxana Mirica, and Oakvale Capital’s Daniel Burns.

“As Genius Sports enters an exciting new chapter in its history, we are uniquely positioned at the heart of the world’s sports, betting and media ecosystem,” said Locke.

“Our merger with dMY II and listing on the NYSE are a testament to the enormous opportunity ahead of us as we leverage our unique scale, drive innovation and deliver products that help our partners create new and immersive experiences for sports fans around the world.”

“With its proprietary technology, unparalleled access to data and growing network of partnerships, GSG is powering the global sports, betting and media ecosystem,” said Niccolo de Masi, Chief Executive Officer of dMY Technology Group. “What’s more, the company benefits from a strong competitive moat and clear, promising growth opportunities that should drive compelling value for shareholders over the long-term.”

Genius Sports currently has partnerships with more than 400 sports organisations including FIFA, the Premier League, the NFL, and the NBA, and prodied data on over 240,000 events each year.