Genius Sports Ltd to start trading on NYSE after combining with dMY Technology Group Inc II

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Official sports data and technology firm Genius Sports Group has completed its previously announced business combination with dMY Technology Group Inc II following approval at a special meeting of the latter’s stockholders last week.

The combined company has now changed its name to Genius Sports Limited and will commence trading on the New York Stock Exchange on Wednesday, April 21, under the ticker symbols “GENI” and “GENI WS”, respectively. 

With over $145m in cash and no financial debt on the balance sheet, the firm said it is poised to continue to capitalize on the considerable growth expected in the global online sports betting market.

CEO and Co-founder Mark Locke explained: “As Genius Sports enters an exciting new chapter in its history, we are uniquely positioned at the heart of the world’s sports, betting and media ecosystem. 

“Our merger with dMY II and listing on the NYSE are a testament to the enormous opportunity ahead of us as we leverage our unique scale, drive innovation and deliver products that help our partners create new and immersive experiences for sports fans around the world.”

Niccolo de Masi, CEO of dMY Technology Group, added: “With its proprietary technology, unparalleled access to data and growing network of partnerships, GSG is powering the global sports, betting and media ecosystem. 

“What’s more, the company benefits from a strong competitive moat and clear, promising growth opportunities that should drive compelling value for shareholders over the long-term.”

As previously announced, Locke will continue to lead the business as CEO, supported by a deep bench of talent with substantial experience across finance, technology and the sports betting industry. 

The Board of Directors will initially comprise eight members including Locke; Chairman David Levy; dMY II’s Chairman Harry You and CEO Niccolo de Masi; Apax Partners’ Albert Costa Centena, Gabriele Cipparrone and Roxana Mirica; and Oakvale Capital’s Daniel Burns.

Genius Sports currently maintains long-term partnerships with over 400 sports organizations globally including the NFL, NBA, NCAA, FIBA, FIFA, EPL and NASCAR.