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DMYD.U - DMY Technology II Inc News Story

$18.13 -3.9  -17.7%

Market Cap £n/a
Enterprise Value £n/a
Revenue £n/a
Position in Universe th / 6852

UPDATE 1-UK's Genius Sports to go public in $1.5 bln deal with New York-listed SPAC

Tue 27th October, 2020 7:36am
(Adds details on board approval, background, CEO)
    Oct 27 (Reuters) - London-based Genius Sports Group Ltd said
on Tuesday it would go public through a merger with New
York-listed special purpose acquisition company (SPAC) dMY
Technology Group Inc II  DMYD.N , valuing it at about $1.5
billion, including debt.
    The boards of both the companies have unanimously approved
the transaction, the company said in a statement.
    The new company is expected to trade its ordinary shares on
the New York Stock Exchange under the symbol "GENI", upon
closing of the deal, the company said.  
    Genius Sports, which acquires data from sports events and
supplies it to sports betting operators, maintains partnerships
with over 500 sports organizations globally, including the NBA,
NCAA, FIBA, FIFA, English Premier League and NASCAR.
    Genius Sports Chief Executive Officer Mark Locke will be the
CEO of the new merged entity, the company added.

 (Reporting by Yadarisa Shabong and Bhargav Acharya in
Bengaluru; Editing by Sriraj Kalluvila and Rashmi Aich)
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