Genius Sports has 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 $1.2 billion, including $900 million payable at closing and an earnout of up to $300 million.

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 $1.1 billion in Group Revenue, $320-330 million in Group Adjusted EBITDA with approximately 50% Free Cash Flow conversion.

Legend monetizes sports audiences through a scaled media network, with world-class marketing technology powering owned and operated digital properties. It also syndicates sports and betting content across major publications, such as Sports Illustrated and Yahoo Sports.

When sports fans are actively researching teams, players, odds, or scores, Legend’s technology helps connect those fans with relevant sportsbooks, gaming products, and advertisers in the moments they are most likely to act.

In 2025, Legend generated 320 million annual visits from 118 million unique visitors, with more than two-thirds returning on a regular basis. This acquisition will bring a large, highly engaged sports and gaming audience into Genius Sports’ media ecosystem, along with predictable revenue.

Through FANHub, the world’s first sports fan activation platform, Genius Sports will connect this global audience and marketing technology with its full range of over 2,000 combined sports, media and betting partners via one integrated platform.

“This deal accelerates our strategic and financial objectives, supercharges fan monetization, and builds a fully integrated sports and gaming media network,” said Mark Locke, CEO of Genius Sports. “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.”

“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,” said Nick Kisberg, Founder of Legend. “I am immensely proud of what we have built and the decades of hard work that have brought us here today.”