Sports data technology company Genius Sports Group (GSG) has announced the completion of its business combination with dMY Technology Group Inc. II (dMY II), which will allow GSG to trade on the New York Stock Exchange (NYSE) ).
The merger was approved at a dMY II shareholder meeting last week. With the combination finalized, the company changes its name to Genius Sports Limited.
As of this Wednesday, the 21st, Genius will begin trading on the New York Stock Exchange under the symbol GENI. The deal will go public with a valuation of US $ 1.5 billion.
“As Genius Sports enters a new exciting chapter in its history, we are uniquely positioned at the heart of the worldwide sports, betting and media market,” said Mark Locke, the executive director and co-founder of Genius Sports.
Locke added: “Our merger with dMY II and the listing on the NYSE is proof of the enormous opportunity that lies ahead. As we leverage our growth, we drive innovation and deliver products that help our partners create new and engaging experiences for sports fans across the globe. ”
Genius cited its partnerships with more than 400 sports organizations, including its recently signed agreement with the National Football League (NFL), as an example of the continued success of its technology platform.
President of Genius Sports will join new board of directors of the company combines
In addition, a new board of directors will take over the combined company, which will comprise the chairman of Genius, David Levy, and the CEO of dMY II, Niccolo de Masi. Recalling that the details of the merger were first announced in October last year.
In January, it was revealed that Genius Sports would form a new holding company, Galileo NewCo, as part of the merger business. Genius also said that DMY II would become a Galileo subsidiary.
Earlier this month, the sports data technology company opted to discontinue its Genius Sports Media and BetGenius brands.
