Genius Sports has acquired FanHub Media Holdings, a provider of free-to-play games, in the sports data and technology firm’s first move as an NYSE-listed company to increase its fan engagement capabilities, subject to customary closing conditions.
Founded in 2012, FanHub provides a suite of technology solutions built around three core service offerings: games, betting and social activation.
The company’s operations span multiple markets across Australia, the UK, the US and Ukraine, working in collaboration with Genius Sports’ various sports, media and betting stakeholder partners, such as the National Football League (NFL), Major League Baseball (MLB), Major Soccer League (MLS), Betway and PointsBet.
Through the transaction, Genius Sports will also acquire FanHub’s suite of games, including fantasy sports, trivia, bracket challenges, pick ’em, and polling games, aiding Genius to deliver tailored marketing campaigns alongside live odds, data and statistics, and video highlights. Furthermore, FanHub’s fan engagement solutions will be merged with Genius media division.
Chairman of FanHub, Tim Lamb, and CEO and Founder of FanHub, Andrew Cronyn, said in a joint statement: “We are delighted to join the Genius Sports family and excited about the potential opportunities for our clients and staff. We couldn’t imagine a more complementary partner and together we will offer an even richer fan experience, generate more engagement and offer value to our partners – and fans.”
Publishing its most recent financial results for 2020, Genius reported corporate revenues of $149 million – up 30% on the FY2019 results – attributing the growth to strong client take-up of its official data rights services for bookmakers.
Dealmakers chose not to disclose acquisition terms as FanHub becomes Genius’ first M&A buyout following its 20 April listing on the NYSE – which surpassed the firm’s $1.5 billion target valuation.
“The acquisition of FanHub will provide our sports, betting and media partners with exciting new content platforms that entirely complement our established data, video and marketing solutions,” added Genius Sports CEO, Mark Locke.
“This transaction is expected to expand Genius Sports’ global audience and reach while accelerating the convergence of sports, betting and media to engage the modern fan.”