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

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

Photo by Chanan Greenblatt on Unsplash

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 Genius Sports (GENI). 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 (BWLD), Draftkings Inc (DKNG), and others. FanHub has more than 110 live products and has over three million active users, according to its website.

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 as of the time of writing.

© 2021 Benzinga does not provide investment advice. All rights reserved.

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.