Genius Sports Group has announced plans to merge with DMY Technology and make it public on the New York Stock Exchange.
The transaction, which was unanimously approved by the two companies, values the total group at approximately $1.5 billion.
Mark Locke, CEO of Genius Sports, will continue as the boss of the combined company.
“This transaction will help us continue to expand and strengthen our position as a bond between the global sports, betting and the media ecosystem,” Locke said.
Niccolo de Masi, CEO of DMY Technology, commented:
“Marke Locke has pioneered the provision of official rights and live data that helped to build the modern sports betting market,” he added.
The group trades stocks on the New York Stock Exchange under the symbol “Geni.”
