Genius Sports Buys Data Firm Second Spectrum in $200M Deal
Genius Sports, which bought a free-to-play gaming company earlier this week, announced Thursday that it has agreed to buy Second Spectrum, a data tracking and analytics provider, for $200 million.
This acquisition combines two sports data and technology companies and creates an end-to-end offering for sports, betting and media, according to a news release.
“Genius is committed to capturing and distributing the fastest, most accurate and secure official sports data. This acquisition supports our long-term strategic vision of utilizing AI tracking, enhanced data insights and transformative technology to revolutionize the sports data landscape for the fans, our customers and sports and media partners,” Genius Sports CEO Mark Locke said in the release. “Adding additional fan engagement technology to our already diverse and cutting-edge portfolio of products and services will create compelling, unique content, that will transform user experiences and create additional revenue streams for our customers.”
On Monday, London-based Genius Sports agreed to acquire FanHub Media Holdings, the free-to-play games firm. It was Genius Sports’ first acquisition since becoming a publicly traded company two weeks ago.
On April 20, Genius Sports completed its $1.5 billion merger with special purpose acquisition company dMY Technology Group began trading on the New York Stock Exchange.
What is Second Spectrum?
Founded in 2013, Second Spectrum — whose investors include Los Angeles Clippers owner Steve Ballmer — has become a fully integrated sports AI provider. It offers tracking, analytics and data visualization services.
The firm allows clients to index action on the court or field within seconds. Using advanced player tracking technology, teams, leagues and data partners can gain real-time insights and increase engagement.
Second Spectrum is the official tracking provider of the EPL, NBA and MLS.
“We are thrilled to join the Genius Sports family,” Second Spectrum CEO Rajiv Maheswaran said in the release. “Second Spectrum’s mission to be at the forefront of innovation in the sports ecosystem in combination with the scale and drive of Genius Sports will rapidly accelerate how content is created and experienced and bring significant value for our partners and clients.”
Genius Sports and the NFL
On April 1, the NFL and Genius Sports announced a multiyear partnership making the company the exclusive provider of NFL stats and sports betting data.
Sportradar had been the NFL’s sole data provider. Sportradar also reportedly has reached a SPAC deal to go public with Horizon Acquisition Corp. II, but is still trying to complete the merger.
Genius Sports has deals with six betting platforms: WynnBET, Barstool Sports, BetMGM, DraftKings, FanDuel and PointsBet.
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