After last week’s major partnership announcement with the National Football League (NFL), sports data and technology company Genius Sports Group has unveiled its new corporate brand and identity in advance of its approaching listing on the New York Stock Exchange (NYSE).
In official company news, the British firm disclosed that its full sports tech portfolio and data assets have been consolidated and will now exist under one brand, “Genius Sports.” The move to a new identity reflects the “rapid convergence” of Genius’ technology products.
New formation:
The London-headquartered group aims to lead in all essential tech disciplines related to live data, wagering, sports integrity, media rights, and providing next-generation innovations. As such, the Betgenius and Genius Sports Media brands have been discontinued, with the firm instead deciding to house its product development divisions and business solutions into four product areas, including Sportstech, Video, Sportsbook, and Media & Engagement, under the new Genius Sports umbrella.
“As we enter a new era as a public company on the NYSE, the time is right to consolidate our offering under the single Genius Sports brand,” said Mark Locke, Group Chief Executive Officer for Genius Sports.
“For more than 20 years, we have never been afraid to walk our own path and our new branding will create a distinct position for us in the market.”
DMYD merger:
Genius Sports is expected to complete its merger, which was first announced in October 2020, with publicly traded special purpose acquisition company dMY Technology Group, Inc. II (NYSE: DMYD), and will now see it trade on the NYSE under the corporate ticker “GENI.”
As mentioned, late last week the UK company secured a major multi-year partnership with the NFL, making it the exclusive global supplier of real-time statistics and proprietary data alongside live audio-visual game feeds from the prestigious American football league. The data rights deal, which sees Genius Sports take over for Sportradar, could be valued at $1 billion, according to a CNBC source.
Locke added…
“This unified approach will help strengthen our value proposition, serve our partners’ needs and articulate our vision of creating personalised fan experiences via the convergence of sports, betting, advertising and streaming.”
Levy hire:
The tie-up followed Genius Sports’ announcement that it had appointed sports industry pioneer David Levy as its new Chairman. In his new role, the former President at Turner Broadcasting, Inc., will be responsible for leading the Board’s oversight of the company’s operations and strategy. After a 30-year tenure at Turner, Levy left the American television and media conglomerate in spring 2019 following an executive shakeup after Time Warner was acquired by AT&T.
In April 2020 it was reported that Levy had been hired by New York-headquartered Raine Group, a global merchant bank focused exclusively on technology, media and telecommunications, to identify and execute investment and advisory opportunities.
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