Genius Sports to acquire Legend in a $1.2bn deal

• Genius Sports entered into a definitive agreement for the acquisition of Legend
• The deal is valued at $1.2bn, including a $900m payment upon completion and an extra $300m as an earnout, subject to customary conditions
• Executives at Genius Sports and Legend speak with excitement about the milestone announcement

The official data, technology and broadcast partner, powering global sports, betting and media, Genius Sports, announced a major acquisition.

On Thursday, the company revealed it has entered into a definitive agreement with Legend, the global, digital sports and gaming media network that monetizes attention.

The milestone acquisition is valued at $1.2bn

Valued at the mind-blowing $1.2bn, the transaction includes a $900m payment which is expected to be completed upon closing of the acquisition.

This breaks down to $800m in cash and $100m in stock consideration.

On the other hand, another $300m would be paid evenly in the two years following the closing of the completion of the acquisition as an earnout that is subject to customary conditions and meeting profitability and cash flow thresholds.

In a press release, Genius Sports explained it has acquired the services of Deutsche Bank Securities Inc. and Goldman Sachs & Co, LLC as financial advisors for the transaction.

At the same time, the company uses the legal counsel of Macfarlanes LLP and Kirkland & Ellis LLP for the acquisition.

On the other hand, Legend uses Latham & Watkins LLP and Herzog Fox & Neeman as legal counsel for the transaction, while Oakvale Capital LLP and The Raine Group serve as financial advisors.

Acquiring Legend, Genius anticipates further growth

Nick Kisberg, Legend's Founder, spoke about the importance of the acquisition.

"Joining forces with Genius Sports brings together two world-class teams, unlocks unparalleled growth opportunities for our partners and products, and gives us an even stronger platform to scale," he explained.

Finally, Kisberg pointed out: "I am immensely proud of what we have built and the decades of hard work that have brought us here today."

Mark Locke, Genius Sports' CEO, was equally excited.

"This deal accelerates our strategic and financial objectives, supercharges fan monetization, and builds a fully integrated sports and gaming media network," he said.

"For Genius Sports and our global partners, it delivers more data, more audience, more inventory and greater monetization of sports fans," Locke added.

In conclusion, the CEO of Genius Sports predicted that the strategic transaction would unlock higher margins and stronger cash flow, enabling the company to continue to grow and scale up its business.

Legend generated 320m annual visits from 118m unique visitors in 2025 alone.

Importantly, more than two-thirds of its customers returned regularly.

By acquiring Legend, Genius Sports anticipates significant growth in Group Adjusted EBITDA margins, as well as Free Cash Flow conversion.

The milestone acquisition is expected to close in the second quarter of 2026.

Image credit: Genius Sports