May.07.2021
Congratulations to our client Second Spectrum on its agreement to be acquired by Genius Sports Limited (NYSE: GENI) for $200 million. Los Angeles-based Second Spectrum is a fully integrated sports AI provider, offering tracking, analytics and data visualization services. Second Spectrum is the official tracking provider of the English Premier League, the National Basketball Association, and Major League Soccer, using advanced AI capabilities and computer vision technology to capture precise ball and player location-based data.
The combined offering of Genius Sports’ existing products, extensive network, and operational scale with Second Spectrum’s highly innovative tracking and video augmentation products will create richer, more valuable official sports data and drive fan engagement with a compelling experience that combines real-time data, and analytics with innovative augmented video streaming and personalized content. The transaction is subject to certain customary closing conditions and is expected to close in the second quarter of 2021.
Orrick has advised Second Spectrum since their Series A financing round in 2015. The Orrick team advising Second Spectrum on this transaction is led by John Bautista, Mark Seneca, John Harrison, Spencer Cohen, Rachel Rice and Andrew Barlow, and includes Steven Malvey, Peter Elias, Michael Yang, Katherine Hogan, Daniel Kim, Chanani Sandler, Soohuen Ham, Heather Sussman, Matthew Coleman, Diana Gillis, Jeanine McGuinness, Kimberly Loocke, Daniel Yost, Arthur Moore, Ashley Walter and James Tierney.