Founded in 2013, Second Spectrum has become an official provider of many sports leagues in America.
The data company allows clients to automatically index live action during games. Through its player tracking technology, data partners can gain real-time insights and engagement.
Now the company will be acquired by Genius Sports for an agreed price of $200m and the price will be paid at closing in cash and shares of Genius Sports common stock.
The transaction is expected to be completed in the second quarter of 2021, once the customary closing conditions have been met.
Thanks to the deal, Genius Sports can now offer a unique level of data-driven insights to its partners. The company feels the acquisition will accelerate its convergence of sports and betting by combining its streaming services with Second Spectrum’s interactive data offering.
“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,” said Genius Sports CEO Mark Locke (pictured). “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.”
Second Spectrum CEO, Rajiv Maheswaran added: "Mark and his incredible team have built the fastest growing sports data platform on the planet by better serving sports leagues, fans and their partners by leveraging technology in novel and compelling ways. 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.“
