LiveScore Group has continued to expand its offering beyond sports media through the acquisition of Wonderlabz, a South African online gaming software and solutions developer.
A long-standing stakeholder in Wonderlabz, LiveScore has increased its stake in the Cape Town-based business from 25% to 100%, fully incorporating into its global network of brands.
Wonderlabz primary products are its Lithium platform, a player account management (PAM) solution, and it’s back office software, which has already been leveraged by LIveScore Group’s flagship brands – the LiveScore sports media app and LiveScore Bet and Virgin Bet sportsbooks.
Ben Johansen, Wonderlabz CEO, said: “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.”
LiveScore Group’s full acquisition of Wonderlabz and subsequent expansion of its gaming capabilities forms part of the London-based media and betting company’s expansion plans, which centre largely around its ‘convergence model’.
The group aims to offer a combined media and betting experience based around the aforementioned LiveScore, LiveScore Bet and Virgin Bet, and has built up a presence in well-established markets such as the UK and rapidly developing ones such as Nigeria.
Also central to LiveScore Group’s convergence model of sports entertainment is media rights – the group’s most notable moves in this area have been in Ireland, where it secured broadcasting rights for the UEFA Champions League and FIFA Club World Cup.
To further support its growth plans for the betting site of its business LiveScore Group recently partnered with Swedish B2B sportsbook solutions supplier Kambi in a deal which the latter’s CEO projected will play a key role in its own development from 2024 onwards.
Commenting on the acquisition of Wonderlabz, LiveScore Group CEO Sam Sadi remarked: “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.”
LiveScore Group’s global growth trajectory, including the acquisition of Wonderlabz, which has grown its headcount by over 100 – has been backed by a £50m investment from parent group Ringier AG.
To read Sam Sadi’s interview with the SBC Leaders magazine (Issue 28, Page 18), providing a breakdown of the betting and media convergence, click HERE