The addition of Wonderlabz will accelerate the process of product development and increase the group’s ability to expand into further key territories, it added.
Acquisition background
Wonderlabz is a software development firm offering a player account management (PAM) system called Lithium as well as a back-office platform, and is home to “renowned software talent and engineers,” according to LiveScore Group.
LiveScore previously had a 25% shareholding in the business, which “played a vital role in the evolution of the app and digital platforms for LiveScore Group’s key brands including LiveScore and LiveScore Bet.”
Through the acquisition, LiveScore has increased its holding in Wonderlabz to 100% and added more than 100 new staff to its global headcount.
The deal “substantially increases the group’s in-house capability and establishes a new tech hub in an emerging market,” LiveScore said.
The deal comes a little over a year after the announcement of a £50m strategic investment into LiveScore Group from Swiss-based media and tech company Ringier AG.Management commentary
“I’m thrilled to announce our acquisition of Wonderlabz, one of the most exciting businesses in the global software development space,” said LiveScore Group CEO Sam Sadi (pictured left).
“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,” Sadi concluded.
Wonderlabz CEO Ben Johansen (pictured right) 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.”
