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A market leader in the high-growth sports data, sports media and regulated sports betting sectors, Genius Sports Group today is sold to Global private equity advisory firm Apax Partners. Financial terms of the deal were not disclosed with the sale set to close in the third quarter of 2018.
A proven PE investor in technology and telecom enterprises (King.com, Orange, Aptos), Apax confirms that it has agreed to acquire Genius Sports outright from founders, management, funds advised by Three Hills Capital Partners (“THCP”) plus other minority shareholders.
The acquisition by the Apax Funds will help the firm provides significant capital to pursue its international expansion, both organically and through strategic acquisitions to better position the company in the rapidly changing sports rights market. Under the terms of the acquisition, Genius Sports Group’s management team will remain in place and retain a minority stake in the company.
“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”, – declares Gabriele Cipparrone, Partner at Apax Partners.
