Genius Sports in Talks to Go Public Through SPAC
(Bloomberg) -- Genius Sports Group is nearing a deal to go public through a merger with DMY Technology Group Inc. II, a blank-check firm led by former EMC Corp. executive Harry You and former Glu Mobile Inc. Chief Executive Officer Niccolo De Masi, according to people with knowledge of the matter.
DMY has held talks with investors about raising $300 million or more in new equity to help finance the merger with London-based Genius Sports, which provides live data to betting companies, said some of the people, who asked not to be identified because the discussions are private. The combined company is set to be valued at about $1.5 billion, one of people said. A transaction could be announced as soon as this week, some of the people added.
Representatives for Genius Sports and DMY didn’t immediately respond to requests for comment.
Genius Sports describes itself as a trusted sports data, technology and integrity partner to some of the largest leagues and federations such as the NBA, NCAA, PGA and the English Premier League.
Another special purpose acquisition corporation led by De Masi, DMY Technology Group Inc., agreed to a deal this year to merge with gaming technology company Rush Street Interactive.
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