LiveScore Group nets £50m investment from Ringier
LiveScore Group and Ringier AG have today announced a landmark strategic partnership, with the Swiss-based media and technology company making a substantial investment in LiveScore Group’s rapidly growing sports media and gaming business.
The deal will fuel the expansion of the industry-disrupting business which incorporates leading brands LiveScore, LiveScore Bet and Virgin Bet. LiveScore Group is a rapidly scaling business, which has made significant share gains in highly competitive markets. This has been achieved through leveraging its differentiated customer acquisition funnel with bespoke gaming integrations across its LiveScore assets.
As the latest evolution within one of Europe’s pre-eminent media businesses, the recently created Ringier Sports Media Group division boasts a thriving portfolio of innovative businesses which are changing the way global audiences interact and engage with sport. The new strategic investment in LiveScore Group will specifically accelerate growth across key Central and Eastern European territories, a notable strength of Ringier’s sports media assets.
Following the investment, Stilian Shishkov will join the Supervisory Board of LiveScore Group. Shishkov is currently Senior Partner of the Ringier Sports Media Group, as well as founder and CEO of Ringier`s Sportal Media Group in Bulgaria.
The significant new investment comes after three-years of eye-catching performance for LiveScore Group, founded in 2019 by former Gamesys Chairman and co-founder Noel Hayden, and led by industry veteran Sam Sadi.
Sam Sadi, CEO LiveScore Group: “This is a hugely significant day for LiveScore Group, as we take a significant step forward following a £50 million strategic investment from Ringier which values our business at £500 million. Ringier, with its Sports Media Group, is the perfect partner as we look to accelerate our expansion into Central and Eastern European territories, given their outstanding expertise, assets and relationships.”
Noel Hayden, Executive Chairman LiveScore Group Board: “I’m excited to see two of the most innovative sport and media businesses form a game-changing new relationship. This is a breakthrough moment which will allow LiveScore Group to maximise strategic opportunities together with Ringier, and to deliver better experiences and value for sports fans around the world.”
Marc Walder, CEO Ringier AG: “From delivering real-time sports scores and free-to-air live streams to millions of global users, to offering the most innovative and trusted sportsbook betting opportunities, LiveScore Group has demonstrated it is already a true industry leader and will be a fantastic business partner for Ringier. Together, we aim to enhance, and increase the enjoyment of sport, through innovative products, and immersive experiences under the operational lead of the Ringier Sports Media Group. With LiveScore Group’s support we will better understand the way people feel about sport and what it means to them. Our vision is to fuel the fans’ passion for sport.”
Robin Lingg, Chairman of the Ringier Sports Media Group Supervisory Board: “Sports media is THE place where sports audiences, athletes and advertisers meet. Within its three-month existence, Ringier Sports Media Group has very purposefully put into practice its founding promise, to unite leading digital sports media brands under its umbrella. The participation in LiveScore Group is another decisive step to develop innovative products based on common technologies in the future and to benefit from the exchange of know-how. That a leading business such as LiveScore Group has agreed to work closely with us in strategic partnership is truly a tribute to our vision of sports media at Ringier.”
The Ringier Sports Media Group includes the sports brands of Sportal Media Group and Digital Ventures OOD in Bulgaria, Gazeta Sporturilor in Romania, Sportal.rs in Serbia and Pulse in Africa. The group`s portfolio is set to grow strongly in the coming months through mergers and acquisitions as well as newly launched products.
Moelis & Company LLC acted as financial advisor and CMS acted as legal advisor to LiveScore Group. DLA Piper acted as legal advisor and KPMG as financial advisor to Ringier AG.