Genius Sports to go public in $1.5bn deal

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Genius Sports Group has revealed plans to merge with Dmy Technology and go public on the New York Stock Exchange.

The deal, which was unanimously approved by both companies, will value the combined group at approximately $1.5bn.

Mark Locke, who is the chief executive of Genius Sports, will continue as the boss of the combined company.

“This transaction will help us continue to expand and strengthen our position as a nexus of the global sports, betting and media ecosystem,” said Locke.

Chief executive of Dmy Technology, Niccolo de Masi, commented: “Elemental data provider Genius Sports Group benefits from the growth of all participants in the global sports betting market.

“Marke Locke has pioneered the provision of official rights and live data which have been instrumental in building the modern sports betting market,” he added.

The group will trade shares on the New York Stock Exchange under the symbol “GENI”.

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Safiya focuses on business and political stories for UK Investor Magazine. Her interests include international development, travel and politics.