Genius Sports Statement Following Settlement of Litigation with SoftConstruct

Rhea-AI Summary

Genius Sports (NYSE:GENI) and SoftConstruct have reached a settlement regarding their legal dispute. SoftConstruct will purchase a multi-year license to access Genius’s data through its BetConstruct and FeedConstruct channels, affirming Genius's ownership of database rights. Jack Davison, Chief Commercial Officer at Genius Sports, expressed satisfaction with the settlement, highlighting the value of their technology and databases. SoftConstruct’s CEO, Armand Pinarbasi, noted the deal will enhance their customer service.

Positive

• Settlement resolves legal dispute, providing clarity for future business.
• SoftConstruct purchases a multi-year license, potentially boosting revenue.
• Partnership recognized the value of Genius's technology and databases.

Negative

• None.

NEW YORK & LONDON--(BUSINESS WIRE)-- Genius Sports (NYSE:GENI) and SoftConstruct have agreed a settlement to resolve their legal dispute. As part of this settlement SoftConstruct have agreed to purchase a multi-year license to supply Genius’ market-leading data via its BetConstruct and FeedConstruct channels, with such license acknowledging Genius's ownership of database rights.

“Genius invests significant time, resource, and expertise in creating and developing market-leading technology and databases to collect and supply sports data products across the industry,” says Jack Davison, Genius Sports’ Chief Commercial Officer. “We are delighted that the SoftContruct team have recognized this value and we look forward to working in partnership with them as we move forward.”

“This deal enables us to service our customers with the best data,” says Armand Pinarbasi SoftConstruct’s CEO. “We can now look forward to a mutually beneficial relationship in the years to come.”

ENDS

About Genius Sports
Genius Sports is the official data, technology and broadcast partner that powers the global ecosystem connecting sports, betting and media. Our technology is used in over 150 countries worldwide, creating highly immersive products that enrich fan experiences for the entire sports industry.

We are the trusted partner to over 400 sports organizations, including many of the world’s largest leagues and federations such as the NFL, EPL, FIBA, NCAA, NASCAR, AFA and Liga MX.

Genius Sports is uniquely positioned through cutting-edge technology, scale and global reach to support our partners. Our innovative use of big data, computer vision, machine learning, and augmented reality, connects the entire sports ecosystem from the rights holder all the way through to the fan.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230104005467/en/

Press:

Chris Dougan, Chief Communications Officer

+1 (202) 766-4430

chris.dougan@geniussports.com

Investors:

Brandon Bukstel, Investor Relations Manager

+1 (954)-554-7932

brandon.bukstel@geniussports.com

Source: Genius Sports

FAQ

What is the recent settlement involving Genius Sports (GENI) and SoftConstruct?

Genius Sports and SoftConstruct settled a legal dispute, with SoftConstruct acquiring a multi-year license for Genius's data.

How will the settlement between Genius Sports (GENI) and SoftConstruct impact investors?

The settlement may enhance revenue streams for Genius Sports through the license agreement with SoftConstruct.

What does the license agreement between Genius Sports (GENI) and SoftConstruct entail?

The agreement allows SoftConstruct to access Genius's market-leading data via its BetConstruct and FeedConstruct channels.

Who commented on the settlement between Genius Sports (GENI) and SoftConstruct?

Jack Davison, Genius Sports' Chief Commercial Officer, and Armand Pinarbasi, CEO of SoftConstruct, both commented positively on the partnership.