Genius Sports takes over FanHub Media
Genius Sports has taken over FanHub Media, which is a free-to-play games development studio, as it goes through its very first corporate takeover as an NYSE-listed enterprise.
Through this agreement, Genius Sports will be adding an offering of FTP titles to its already-existing sports betting technology unit, as FanHub’s engagement solutions will be integrated into the Genius media division. Dealmakers also decided to keep the terms of the deal confidential as FanHub is now the first ever M&A purchase of the company after it was listed on the NYSE on the 20th of last month.
In an update for investors, Mark Locke, CEO of Genius Sports, highlighted FanHub as being the best possible partner to help Genius grow and flourish the three main business segments of marketing optimisation, data/media solutions and wagering technologies.
“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. 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.”
Moreover, FanHub was initially established in 2012 and its suite of free-to-play products and engagement solutions are utilized by a large variety of stakeholders such as the NFL, Betway, Eurosport, bet365 and many others… Currently, FanHub provides services of more than 50 proprietary-built products.
Tim Lamb, Chairman of FanHub, also added:
“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.”
Genius is now awaiting the closing of this acquisition which its set to take place during Q2 of this year.