Genius Sports on Thursday announced it has entered into a definitive agreement to acquire Legend, a digital sports and gaming media network, in a transaction valued at up to $1.2 billion, including $900 million payable at closing and an earnout of up to $300 million.
In a news release, Genius Sports said the transaction is expected to be immediately accretive to group Adjusted EBITDA margins and free cash flow conversion while maintaining at least 20% group revenue CAGR through 2028. On a 2026 annualized pro forma basis, after giving effect to the acquisition, the combination is expected to position Genius to achieve about $1.1 billion in group revenue, $320 million-$330 million in group adjusted EBITDA with about 50% free cash flow conversion.
