Betting data and technology firm Genius Sports has new owners

Genius Sports, a betting data and technology supplier, will soon have new ownership following an agreement to purchase for an undisclosed consideration by London-based private equity company Apax Partners.

Reporting on the deal, the Bloomberg business news agency noted that the betting data company has close links with a number of international gambling operators, along with the English Premier League and Major League Baseball.

As an indicator on value, Bloomberg points to the recent acquisition of a minority stake in Sportsradar AG by the Canada Pension Plan Investment Board, together with private equity firm TVC, for a reported $2.4 billion.

The consideration may also be influenced by recent moves to a more liberalised sports betting dispensation in the United States following the overturning of the Professional and Amateur Sports Protection Act by the US Supreme Court, creating a market estimated at over $100 billion.

The data services and products that Genius Sports offers are ideally placed to benefit from these positive industry moves. The company’s subsidiary BetGenius claims its technology is used by more than 150 international sportsbooks on global regulated markets.

Apax expects to finalise the acquisition by the end of Q3 this year.