Left Menu
Development News Edition

UPDATE 1-UK's Genius Sports to go public in $1.5 bln deal with New York-listed SPAC

London-based Genius Sports Group Ltd said on Tuesday it would go public through a merger with New York-listed special purpose acquisition company (SPAC) dMY Technology Group Inc II, valuing it at about $1.5 billion, including debt. The boards of both the companies have unanimously approved the transaction, the company said in a statement.

Reuters | Updated: 27-10-2020 14:22 IST | Created: 27-10-2020 14:18 IST
UPDATE 1-UK's Genius Sports to go public in $1.5 bln deal with New York-listed SPAC
Representative image Image Credit: Piqsels

London-based Genius Sports Group Ltd said on Tuesday it would go public through a merger with New York-listed special purpose acquisition company (SPAC) dMY Technology Group Inc II, valuing it at about $1.5 billion, including debt.

The boards of both the companies have unanimously approved the transaction, the company said in a statement. The new company is expected to trade its ordinary shares on the New York Stock Exchange under the symbol "GENI", upon closing of the deal, the company said.

Genius Sports, which acquires data from sports events and supplies it to sports betting operators, maintains partnerships with over 500 sports organizations globally, including the NBA, NCAA, FIBA, FIFA, English Premier League and NASCAR. Genius Sports Chief Executive Officer Mark Locke will be the CEO of the new merged entity, the company added.

Also Read: SC adjourns Andra govt's plea against HC order scrapping English medium in primary schools


TRENDING

OPINION / BLOG / INTERVIEW

Turbulence surrounding tobacco control in Ghana

... ...

Smart healthcare: IoT redefining the way healthcare is delivered

As the world is embracing the new wave of digitalization triggered by the pandemic and the arrival of 5G, the adoption of IoT devices will further boom. With adoption set to soar, IoT security issues and other challenges cant be ignored any...

Refugee compassion and response: Ideas to mitigate disasters now and in their future

Their homeland becomes a forbidden territory for them and more likely than not, their journey to foreign soil is no less traumatizing, not to say deadly. It is crucial to help refugees live a life of dignity and purpose....

Inadequate water infrastructure causes a tidal wave of coronavirus in rural Alaska

... ...

Videos

Latest News

Leader of Tigray forces says they will continue fighting Ethiopian government

The leader of the rebellious Tigrayan forces told Reuters in a text message that they will continue fighting the Ethiopian government, hours after the government declared military operations in Tigray complete.Their brutality can only add t...

A day after Suvendu's resignation as minister, speculations rife over his next move

Amid speculations over the next move of senior Trinamool Congress leader Suvendu Adhikari, the BJP on Saturday said that the party is in touch with him while the TMC was hopeful about reopening dialogue with its disgruntled functionary. Adh...

Canada blocks bulk exports of some prescription drugs in response to Trump import plan

Canada on Saturday blocked bulk exports of prescription drugs if they would create a shortage at home, in response to outgoing U.S. President Donald Trumps efforts to allow imports from Canada to lower some drug prices for Americans.Certain...

UK police arrest 155 in anti-lockdown protests in London

Police in London said on Saturday that they had made 155 arrests as they tried to break up anti-lockdown and anti-vaccine protests.The police said the arrests had been made for different offences including assaulting a police officer, posse...

Give Feedback