Genius Sports has agreed to acquire Legend in a deal valued at up to $1.2bn. The transaction brings a large digital media network into the group’s existing data and betting services. With the Genius Sports Legend acquisition, the company is expanding further into media and advertising alongside official sports data.

  • Genius Sports confirmed it will pay $900m at closing, split between $800m in cash and $100m in stock, plus an earnout of up to $300m. The earnout is linked to profitability and cash flow targets over the two years after closing. The transaction is expected to complete in Q2 2026, subject to regulatory and customary conditions.

  • Legend operates a global sports and gaming media network, running owned digital properties and syndicating content across partners such as Sports Illustrated and Yahoo Sports. Its platform focuses on monetising moments when fans are actively researching teams, players, odds, or scores. The Genius Sports Legend acquisition brings this media reach directly into Genius Sports’ ecosystem.

  • In 2025, Legend recorded 320m annual visits from 118m unique users, with more than two-thirds returning regularly. Genius Sports said this audience delivers predictable, recurring media revenue. The group plans to connect these users with sportsbooks, advertisers, and brands through its existing commercial relationships.

  • On a 2026 pro forma basis, Genius Sports expects the combined business to generate around $1.1bn in group revenue. Adjusted EBITDA is projected at $320m to $330m, with free cash flow conversion of roughly 50%. The company said the deal will be immediately accretive to margins and cash generation.

  • Genius Sports also released preliminary 2025 results, reporting group revenue of $669m and adjusted EBITDA of $136m. Cash and cash equivalents stood at $281m at year-end. On a standalone basis, the company expects 2026 revenue of $810m to $820m and adjusted EBITDA of $180m to $190m.

  • The acquisition supports a longer-term outlook that targets $1.6bn in group revenue by 2028. Genius Sports forecasts an adjusted EBITDA margin of around 35% and free cash flow conversion of at least 60%. These targets reflect the expanded scale created by the Genius Sports Legend acquisition.

  • Commenting on the transaction, CEO Mark Locke said: “This deal accelerates our strategic and financial objectives and builds a fully integrated sports and gaming media network.” Legend founder Nick Kisberg added that the combination “gives us an even stronger platform to scale” across partners and products.