Genius Sports Group (“GSG”) the formal data, technology and commercial spouse that powers the international ecosystem connecting athletics, betting and media, declared right now that it has concluded its formerly announced business enterprise blend (the “Business enterprise Mix”) with dMY Technological innovation Team, Inc. II (“dMY II”). The Small business Blend was approved at a exclusive assembly of dMY II’s stockholders held Friday, April 16.
Upon completion of the Business Mix, the blended enterprise changed its title to Genius Sports Limited (“Genius Sporting activities” or “the Organization”). Commencing on Wednesday, April 21, 2021, Genius Sports’ normal shares and warrants will trade on the New York Stock Exchange (the “NYSE”) underneath the ticker symbols “GENI” and “GENI WS”, respectively. With about $145 million in funds and no money personal debt on the stability sheet, Genius Sports activities is poised to go on to capitalize on the appreciable growth predicted in the global on-line sports betting market place.
GSG is a main supplier of sports activities knowledge and technological know-how powering the sports activities, betting and media ecosystem. Genius Athletics acquires details from sports activities gatherings close to the earth and materials it to athletics betting operators, supplying them with safe, superior-high-quality, mission significant details and information that helps them far better engage with and shield their prospects. The Business is an innovator with a primary portfolio of rights to official facts – the feed of stay sports stats that is sanctioned, and in any other case owned, by the appropriate governing league. Genius Sports activities gives details on more than 240,000 gatherings just about every calendar year – effectively every single hour of every day – and is the official service provider for over 150,000 of these situations. The Firm also gives digital internet marketing and engagement for the earth of sport, empowering models to activate lovers throughout the world with personalised, multi-channel written content.
Genius Sports’ scale, entry to formal data, and revolutionary know-how system differentiate it within just the sector. The Business maintains lengthy-term partnerships with around 400 sports activities organizations globally, including the NFL, NBA, NCAA, FIBA, FIFA, EPL and NASCAR. Its proprietary technological innovation and knowledge feeds are mission crucial to the success of its sportsbook companions.
“As Genius Sports activities enters an fascinating new chapter in its historical past, we are uniquely positioned at the heart of the world’s sporting activities, betting and media ecosystem,” mentioned Mark Locke, Main Executive Officer and Co-Founder of Genius Athletics. “Our merger with dMY II and listing on the NYSE are a testomony to the massive option forward of us as we leverage our distinctive scale, drive innovation and supply merchandise that aid our partners build new and immersive activities for sports activities admirers all-around the globe.”
“With its proprietary technology, unparalleled access to knowledge and expanding community of partnerships, GSG is powering the international sports activities, betting and media ecosystem,” explained Niccolo de Masi, Main Government Officer of dMY Engineering Team. “What’s extra, the company positive aspects from a sturdy aggressive moat and very clear, promising progress options that ought to travel powerful benefit for shareholders above the prolonged-time period.”
As previously announced, Mark Locke will continue on to lead the business enterprise as Chief Govt Officer. Locke will be supported by a deep bench of talent with substantial knowledge across finance, technological know-how and the sporting activities betting sector. The Board of Directors will in the beginning consist of 8 customers, which include Mark Locke Chairman David Levy dMY II’s Chairman Harry You and CEO Niccolo de Masi Apax Partners’ Albert Costa Centena, Gabriele Cipparrone and Roxana Mirica and Oakvale Capital’s Daniel Burns.
Advisors
Goldman Sachs & Co. LLC acted as unique monetary advisor to dMY II. Oakvale Funds LLP acted as unique financial advisor to GSG. Goldman Sachs & Co. LLC acted as direct placement agent for the PIPE transaction. Credit Suisse Securities (United states of america) LLC and Oakvale Capital LLP also acted as funds markets advisors to dMY II and GSG, respectively, and placement agents for the PIPE transaction. Kirkland & Ellis LLP is serving as legal advisor to GSG. White & Scenario LLP served as legal advisor to dMY II. Goldman Sachs & Co. LLC acted as the sole bookrunner of dMY II’s IPO Needham & Co. also acted as underwriter.
About Genius Sports activities
Genius Sports activities is the formal details, engineering and commercial associate that powers the world wide ecosystem connecting sports activities, betting and media. We are a international chief in digital sports material, technologies and integrity providers. Our technologies is applied in in excess of 150 nations around the world all over the world, empowering sports to seize, deal with and distribute their stay facts and online video, driving their digital transformation and improving their interactions with enthusiasts.
We are the reliable lover to over 400 sporting activities corporations globally, including many of the world’s greatest leagues and federations these types of as the NFL, NBA, EPL, FIBA, NCAA, NASCAR, AFA and PGA.
Genius Sporting activities is uniquely put by means of cutting-edge technology, scale and world attain to assist our associates. We are a lot more than just a technology business, we establish very long-phrase interactions with athletics at all degrees, assisting them to command and optimize the price of their written content though offering specialized abilities and round-the-clock guidance.
About dMY Technology Team II
dMY Technologies Group, Inc. II was a publicly traded particular function acquisition business founded for the function of effecting a merger, money stock exchange, asset acquisition, inventory obtain, reorganization or related enterprise mix with just one or a lot more companies.
Forward-Hunting Statements
Specified statements in this press release may possibly be regarded “ahead-looking statements” inside of the that means of the “secure harbor” provisions of the Non-public Securities Litigation Reform Act of 1995. These forward-looking statements incorporate, devoid of limitation, the Company’s expectations with regard to upcoming efficiency and anticipated economical impacts of the Business enterprise Blend. In some conditions, you can discover forward-searching statements by terminology such as “might”, “ought to”, “be expecting”, “intend”, “will”, “estimate”, “foresee”, “think”, “predict”, “potential” or “continue”, or the negatives of these conditions or variants of them or similar terminology. These kinds of forward-searching statements are subject matter to hazards, uncertainties, and other factors which could bring about true effects to differ materially from these expressed or implied by this sort of ahead wanting statements.
These ahead-hunting statements are dependent upon estimates and assumptions that, though viewed as reasonable by the Organization and its management, are inherently unsure. Aspects that may induce genuine benefits to vary materially from current expectations contain, but are not minimal to: (1) the end result of any lawful proceedings or regulatory issues or investigations that might be instituted against the Organization (2) the ability to meet inventory trade listing specifications subsequent the consummation of the Company Combination (3) the danger that the Organization Mixture disrupts existing options and operations of GSG as a result of the announcement and consummation of the Business Mixture (4) the skill to recognize the expected rewards of the Business enterprise Mix, which may perhaps be affected by, between other items, level of competition, the capacity of GSG to expand and control expansion profitably, keep relationships with customers and suppliers and retain its management and crucial workforce (5) costs related to the Business enterprise Mixture (6) alterations in applicable laws or laws (7) the risk that the Business could be adversely afflicted by other financial, small business, and/or aggressive components (8) the affect of COVID-19 on the Company’s business and (9) other dangers and uncertainties set forth in the area entitled “Hazard Factors” and “Cautionary Note Regarding Forward-Hunting Statements” in the Company’s filings with the SEC, like the Registration Assertion on Type F-4 relating to the Company Combination.
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Perspective resource version on businesswire.com: https://www.businesswire.com/information/dwelling/20210420005738/en/
Contacts
Genius Sporting activities Constrained:
Media
Chris Dougan, Main Communications Officer
+1 (202)-766-4430
[email protected]
Tristan Peniston-Chicken, The A person Nine Three Team
+44 7772 031 886
[email protected]
Investors
Brandon Bukstel, Investor Relations Manager
+1 (954)-554-7932
[email protected]
dMY Know-how Group, Inc. II
Media
Investors
Niccolo de Masi
+1 (310) 600-6667
[email protected]
Harry You
+1 (702) 781-4313
[email protected]
