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DYMD - Genius Sports Group Limited (GSG), the leading provider of sports data and technology powering the sports, betting and media ecosystem, and dMY Technology Group, Inc. II announced that they have entered into a definitive business combination agreement pursuant to which GSG and dMY II will combine.
The transaction implies a pro forma enterprise value of approximately $1.5 billion. Genius Sports has exclusive partnerships with NCAA NBA Premier League NASCAR and PGA and has a revenue of 145 million for 2020 and is expected to grow to 190 million in 2021. The forward growth path seems clear and profitable. Their direct competitor is Sportradar which is not yet public.
The transaction is expected to close in the first quarter of 2021 Upon closing, the combined company's common stock is expected to be traded on the New York Stock Exchange ("NYSE") under the symbol "GENI".