Genius Sports Acquires FanHub: Why The Deal Could Diversify The Company's Offerings

A company that provides real-time data from sporting events to media and sports betting companies is acquiring a free to play game provider that could diversify its products.

What Happened: FanHub, a free to play game provider, is being acquired by DMY Technology Group, Inc. II GENI, better known as Genius Sports. No financial terms of the deal were disclosed.

FanHub was founded in 2012 and offers three core services of games, betting and social activation. FanHub has operations in Australia, the UK, U.S. and Ukraine.

FanHub offerings include fantasy sports, trivia, bracket challenges, pick-em contests and polling games. The company has partnerships with the NFL, MLB, BetWay, PointsBet, Buffalo Wild Wings, Draftkings Inc DKNG and others.

FanHub has more than 110 live products and has over three million active users according to its website.

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Why It’s Important: The acquisition helps diversify Genius Sports products. The company also highlighted in the press release that the acquired company could help with fan engagement capabilities and create a more personalized user experience.

“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,” Genius Sports CEO Mark Locke said.

Genius Sports said there are several opportunities with FanHub to grow the brand and monetization.

The company highlighted its ability to acquire and scale companies like its deal with Sportzcast in December 2020.

GENI Price Action: Shares are down 0.047% to $21.09 on Monday afternoon at publication.

(Photo by Chanan Greenblatt on Unsplash)