Genius Sports agrees $1.2 billion deal to acquire Legend

Genius Sports has entered into a definitive agreement to acquire the sports and gaming media technology platform Legend.

The agreement was announced on Thursday, with the deal valued at $1.2 billion, including $900 million at the close of the deal and an earnout of up to $300 million.

The $900 million upfront consideration comprises $800 million in cash and a further $100 million in stock consideration.

Genius claimed the deal will create a “digital sports and gaming media powerhouse”, which will provide the company with a unique position as the only company to operate two synergistic businesses involving official sports data, media and advertising.

Legend’s technology provides players with relevant sportsbooks, gaming products and advertisers when they’re most likely to bet.

In 2025, Legend generated 320 million annual visits with 118 million unique visitors. Over two-thirds of these returned on a regular basis.

Genius Sports CEO Mark Locke believes the deal will advance the company’s objective of building a fully integrated sports and gaming media network.

“For Genius Sports and our global partners, it delivers more data, more audience, more inventory and greater monetisation of sports fans,” Locke said.

“The acquisition of Legend will drive higher margins and stronger free cash flow, positioning Genius Sports to immediately transform the market and grow the size and scale of our business.”

Legend founder Nick Kisberg said the partnership with Genius Sports is the right fit, explaining: “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.

“I am immensely proud of what we have built and the decades of hard work that have brought us here today.”

Genius ups guidance after Legend agreement

The acquisition of Legend is expected to immediately aid Genius’ financial outlook, with the company predicting it will maintain at least 20% group revenue CAGR through 2028.

Genius also reported its preliminary results for FY25, with group revenue increasing 31% year-on-year to $669 million.

Adjusted EBITDA was $136 million, a remarkable 59% increase from 2024.

The company has upped its guidance for 2026, with the Legend deal expected to position the company to achieve approximately $1.1 billion in group revenue and between $320 million and $330 million in adjusted EBITDA.

The Legend acquisition will set an even higher performance benchmark for 2028, with group revenue of $1.6 billion. That represents a CAGR of around 21% between 2026 and 2028.