Genius Sports Signs Definitive Agreement to Acquire Legend
Genius Sports has announced that it has reached an agreement to acquire digital sports and media network Legend. The transaction is valued at up to $1.2 billion, with $900 million payable at closing and a $300 million earnout.
According to Genius Sports, the group expects to increase its adjusted EBITDA margins and Free Cash Conversion from the acquisition, while maintaining a 20% Group Revenue CAGR through 2028. For 2026, they estimate group revenue of $1.1 billion and adjusted EBITDA of around $330 million.
Chief Executive Officer of Genius Sports, Mark Locke, said, “For Genius Sports and our global partners, it delivers more data, more audience, more inventory, and greater monetization of sports fans. 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 saw 320 million annual visitors in 2025, with 118 million being unique visitors to its monetized sports media network. It uses marketing technology to operate digital properties, and also distributes sports betting content on publications including Yahoo Sports and Sports Illustrated.
Founder of Legend, Nick Kisberg, added, “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.”
- Genius Sports has announced that it has signed a definitive agreement to acquire media network Legend.
- The acquisition of Legend is valued at more than $1.2 billion.
- Genius Sports says that because of the acquisition, group revenue for 2026 is expected to be $1.1 billion.
