Apax acquisition to drive international expansion for Genius Sports

Apax acquisition to drive international expansion for Genius Sports

Monday, July 30, 2018 Posted by Luke Massey
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Sellers include founders, management and Three Hills Capital Partners

Genius Sports Group has set its sights on the “substantial opportunities in North America” after US private equity firm Apax Partners reached an agreement to purchase the global sports rights and data leader.

Financial terms have not been disclosed, but the stake was acquired from founders, management, funds advised by Three Hills Capital Partners (THCP), who made a £10 million investment in the Group just under three years ago, and other minority shareholders.

Both parties have confirmed that despite the transaction, expected to close in Q3 2018, Genius Sports’ management team will remain in place, retaining a minority stake in the company.

Gabriele Cipparrone, Partner at Apax Partners, said: “We have been attracted to the sports data market for some time, having seen live data and technology as key drivers of growth. Within this sector, Genius Sports Group stood out due to the breadth of its offering, its industry-leading technology, and its excellent reputation as a ‘high integrity’ data provider.

“The company has grown strongly in recent years and we look forward to working with Mark and his team to continue this growth as the company leverages new technologies to enhance its services.”

Mark Locke, Chief Executive Officer of Genius Sports Group, added: “We are excited to have Apax on board as we look to capitalise on the significant expected growth in the sports data and regulated betting markets, including substantial opportunities in North America.

“Our company’s values are founded on integrity, intelligence and innovation so it was critical for us to choose a long-term investment partner that embodies these principles and understands our vision.

“As we enter the next phase of dynamic growth, Apax is one of the few partners with the expertise, global presence and access to capital to enable us to achieve our goal of becoming the most trusted and most respected sports data technology company in the world.”

Genius Sports’ in-game statistics are used by over 300 sporting bodies around the world, while its services also enable the likes of Major League Baseball (MLB), English Premier League (EPL) and the PGA TOUR to identify, combat and prevent betting-related corruption.

Meanwhile, through its sports betting division Betgenius, the group’s technology is used by more than 150 licensed sportsbook operators in regulated markets around the world to maximise performance across their betting platforms, trading and customer engagement systems.

Totally Gaming says: Just like THCP’s investment in 2015, this acquisition provides Genius Sports with significant capital to pursue its ongoing international expansion, particularly in North America, with the aim of consolidating its position in the changing sports rights and data market.

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