Genius Sports informed that funds advised by Apax Partners have fully monetized their equity interest in the firm and no longer holds any shares in the company. Apax had been selling its stake in Genius over the past year.
In September, it started selling 23 million shares, which left it with 31 million at the end of 2023. Apax’s stake was reduced to 20 million shares after the first quarter of 2024. The block sale was to new and existing shareholders.
“Apax has been a tremendous partner to Genius Sports, and we are grateful for their valuable insight and expertise over the last six years,” said Mark Locke, Genius Sports Co-Founder and CEO.
“Today marks the conclusion of a very successful partnership, and we look forward to welcoming this next chapter with the ongoing support of our high-quality institutional shareholders.”
Genius Sports is the official data, technology and broadcast partner that powers the global ecosystem connecting sports, betting and media. Its technology is used in over 150 countries worldwide, creating highly immersive products that enrich fan experiences for the entire sports industry.
The company is the trusted partner to over 400 sports organizations, including many of the world’s largest leagues and federations such as the NFL, EPL, FIBA, NCAA, NASCAR, AFA and Liga MX.
“Genius Sports is uniquely positioned through cutting-edge technology, scale and global reach to support our partners. Our innovative use of big data, computer vision, machine learning, and augmented reality, connects the entire sports ecosystem from the rights holder all the way through to the fan,” states the company.
Source: GMB
