LiveScore Group announces acquisition of Wonderlabz
LiveScore Group has announced the full acquisition of South Africa-based software development specialists Wonderlabz.
The acquisition adds significant scale to LiveScore Group at a time of substantial growth for the business, accelerating the process of product development as well as increasing the capability to expand into further key territories.
Wonderlabz has established world-class development credentials centred around its industry-leading Lithium PAM and back-office platform and renowned software talent and engineers. Specifically, the business has played a vital role in the evolution of the app and digital platforms for LiveScore Group’s key brands including LiveScore and LiveScore Bet.
Comprising three brands including LiveScore, one of the world’s leading real-time sports updates and streaming service providers, and award-winning sportsbooks LiveScore Bet and Virgin Bet, LiveScore Group has seen record-breaking success through its unique and pioneering model which converges the worlds of sports media and sports betting.
The Wonderlabz deal comes just over one year after the announcement of a £50 million strategic investment into LiveScore Group from Swiss-based media and tech firm Ringier AG. The subsequent 12 months have seen LiveScore Group significantly accelerate its global expansion, with this latest acquisition extending its existing holding in Wonderlabz from 25% to 100%. The move substantially increases the Group’s in-house capability and establishes a new tech hub in an emerging market.
Sam Sadi, CEO of LiveScore Group, commented: “I’m thrilled to announce our acquisition of Wonderlabz, one of the most exciting businesses in the global software development space. We have grown our relationship with the fantastic people and experts at Wonderlabz over many years, and their stand-out Lithium PAM platform has played a critical role in the ongoing success of our industry-leading convergence strategy.
I’m personally excited to work even closer with the team in Cape Town to help continue to develop a world-class tech hub in the area, one which increases the technical capability of our business and will fuel the potential for further growth. Welcome to the LiveScore Group family, Wonderlabz.”
Ben Johansen, CEO of the Wonderlabz group added: “This is a hugely exciting day for Wonderlabz, as we officially join the pioneering LiveScore Group family. Over recent years we have built an outstanding business centred on world-class software development talent, working with the likes of LiveScore Group to develop industry-leading tech solutions.
There is no doubt that in LiveScore Group, we join one of the most forward-thinking and innovative businesses in the sports media and betting worlds. I cannot wait for our people to continue playing a key role in what comes next.”