Genius Sports to acquire Legend in a transaction valued at up to $1.2B

Genius Sports (GENI) announced it has entered into a definitive agreement to acquire Legend, a global, digital sports and gaming media network built to monetize attention, in a transaction valued at up to $1.2B, including $900M payable at closing and an earnout of up to $300M. For Genius Sports, the transaction is expected to be immediately accretive to Group Adjusted EBITDA margins and Free Cash Flow conversion while maintaining at least 20% Group Revenue CAGR through 2028. On a 2026 annualized pro forma basis; after giving effect to the acquisition, the combination is expected to position us to achieve approximately $1.1B in Group Revenue, $320M-330M in Group Adjusted EBITDA with approximately 50% Free Cash Flow conversion. The proposed acquisition is expected to close in the second quarter of 2026, subject to customary closing conditions.