The company said that the amount will given somewhat in cash and partially in Genius Sports stock.
As data becomes more valuable to control and power sportsbooks and live shows, providers like Genius Sports are in an arms race to get faster, more reliable, stable, exclusive feeds.
Purchasing Second Spectrum, which specializes in turning a video into data, will give Genius both new technology abilities and a mutual client base.
It will also provide Genius to increase the direct fan-facing part of its business. Most of the London-based firm’s income comes from data feeds it sells to sportsbooks and media fellowships. The Second Spectrum has worked with groups like ESPN and the Clippers to give augmented reality viewing experiences for basketball and soccer.
Genius will likely also use that data to augment its betting feeds.