Provider of technology and software solutions for the international sports betting industry Genius Sports Group has had its official launch into the sector. The brand is the result from the recent merger between Melbourne-based SportingPulse and London-headquartered Betgenius. The combined entity now employs over 750 people working in 10 offices worldwide.
Generally speaking, SportingPulse was founded in 1999 in the Australian city of Melbourne. The company is best known for its solutions for sports administration and basketball data collection, as well as its management software. In 2004, it started working with the International Basketball Federation. As a result from the partnership, the company has developed a Sport Management Platform for the sport.
As for Betgenius, it was launched in 2000 and has provided a number of major regulated betting and lottery operators with data-driven marketing solutions as well as sportsbook management. In addition, the company has offered both pre-match and in-play odds.
Mark Locke, CEO of Genius Sports and Betgenius Co-Founder, said that the two companies’ merger would prove to be a perfect match and would create a globally renowned full-service sports betting technology and data business, especially given the fact that both Betgenius and SportingPulse are coming from countries that have been generally recognized as leaders in sport. Mr. Locke further noted that the combined entity is ready to exploit the massive opportunities that are to open up in China, India, and the US.
Genius Sports COO and SportingPulse Founder Nick Maywald commented on the merger and the official launch of the new business, saying that Genius Sports may have changed its name and look but it remains committed to the same values. The official added that they still consider it particularly important to collect, protect, and commercialize sports data in order to secure the future success and growth of the industry.
Shortly after the merger between the two companies, the combined entity announced that it had closed a debt partnership with private equity firm Three Hills Capital Partners. Under the terms of the deal, the said firm was to invest £10 million in order to help Genius Sports diversify its catalog of product offering, bolster its plans for expansion into new jurisdictions, and fund future acquisitions.
