Sports data, technology and broadcast partner Genius Sports Ltd. unveiled plans Thursday to acquire digital sports and gaming network Legend in a $1.2 billion deal that was built by four law firms.

The purchase price includes $900 million payable at closing, made up of $800 million in cash and $100 million in stock consideration, and an earnout of up to $300 million split evenly across two years post-closing based on certain profitability achievements, according to a Thursday statement.

Macfarlanes LLP and Kirkland & Ellis LLP advised Genius Sports, while Latham & Watkins LLP and Herzog Fox & Ne'eman advised Legend.

The acquisition is intended to bring a large, "engaged" sports and gaming audience to Genius Sports' media ecosystem, the statement said. Through FANHub, the company will be able to connect its global audience and marketing technology with its range of over 2,000 combined sports, media and betting partners through one integrated platform, the statement added.

"This deal accelerates our strategic and financial objectives, supercharges fan monetization, and builds a fully integrated sports and gaming media network," said Genius Sports CEO Mark Locke. "For Genius Sports and our global partners, it delivers more data, more audience, more inventory and greater monetization of sports fans. The acquisition of Legend will drive higher margins and stronger free cash flow, positioning Genius Sports to immediately transform the market and grow the size and scale of our business."

Legend monetizes sports audiences through a media network, and it syndicates sports and betting content across major publications such as Sports Illustrated and Yahoo Sports, the statement said. In 2025, the company generated 320 million annual visits from 118 million unique visitors, with over two-thirds returning on a regular basis, according to the statement.

"Joining forces with Genius Sports brings together two world-class teams, unlocks unparalleled growth opportunities for our partners and products and gives us an even stronger platform to scale," said Legend founder Nick Kisberg. "I am immensely proud of what we have built and the decades of hard work that have brought us here today."

Genius Sports said it plans to fund its acquisition with a $850 million Term Loan B issuance, with its revolving credit facility staying undrawn.

The deal is expected to close in the second quarter of 2026, subject to customary closing conditions.

The Kirkland team advising Genius Sports included corporate partner Edward Lee, capital markets partners Ross Leff and Asher Qazi, debt finance partners Adam Shapiro and Edward McCartney, and antitrust and competition partner Andrea Murino.

Orrick Herrington & Sutcliffe LLP acted as gaming regulatory counsel to Genius Sports, with a team including Behnam Dayanim and Bradley Fischer.

The Latham team advising Legend was led by partners Ed Barnett, Hector Sants and Harriet Stephenson.

Full legal counsel information for the other law firms advising the parties was not immediately available Thursday.