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Friday, March 31, 2023

Genius Sports (NYSE: GENI) Buys Spirable

Genius Sports Limited (NYSE: GENI) has announced the acquisition of Spirable which is a prominent creative performance platform. Both the firm has inked an agreement and has not disclosed the terms of the agreement. It has been disclosed that the execution of the deal is dependent on traditional closing conditions and is anticipated to take place in the second half of 2021.

Spirable enables brands, agencies, and rights holders to build, computerize and enhance highly customized content. The at-scale providing utilizes live and contextual data and AI to deliver content across the major digital media channels including Facebook, Twitter, YouTube, and Snapchat.

Furthermore, the merger of Genius Sports’ official sports data, vast network, and operational scale with Spirable’s highly sophisticated video platform will lead to a deeper engagement, higher performance, and reduce the cost of purchase for partners.

Additionally, Spirable allows advertisers to deliver data, video, and AI-driven content using a single platform across all digital media channels for sectors such as Betting, Brands and sponsors, Rightsholders, and Broadcast and OTT. Genius Sports believes that the growing union of sports, betting and media, customized video advertising has emerged as a fundamental requirement to lure, connect, and acquire customers.

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