Apax Partners has announced it will acquire sports data technology company Genius Sports Group for an undisclosed amount.
The company said in a press release that the purchase funds were acquired from a combination of the company’s founders, management, funds advised by Three Hills Capital Partners and other minority shareholders. The transaction is expected to close in the third quarter.
Founded in 2000 and headquartered in London, Genius Sports Group is a market leader in the high-growth sports data, sports media and regulated sports betting sectors, specializing in the capture and distribution of real-time data, the release said.
The company’s software is used by over 300 sporting bodies around the world to collect and distribute in-game statistics. It also offers a full suite of services to enable the likes of Major League Baseball, the English Premier League and the PGA Tour to identify, combat and prevent betting-related corruption, the release said.
The company also owns Betgenius, used by over 150 licensed sportsbook operators in regulated markets around the world.
Apax Funds said the acquisition will further strengthen its existing operations and provide significant capital to pursue international expansion. Genius Sports Group’s management team will remain in place and retain a minority stake in the company, the release said.
“We have been attracted to the sports data market for some time, having seen live data and technology as key drivers of growth,” said Gabriele Cipparrone, partner at Apax Partners in the release. “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 the Genius Sports team to continue this growth as the company leverages new technologies to enhance its services.”
