Sports media operator LiveScore Group has made its first acquisition as an independent business by purchasing South African platform developer Wonderlabz. The company previously owned a 25% stake in Wonderlabz and has now acquired the remaining 75% for an undisclosed sum. This deal brings a team of developers on board to accelerate product development and international expansion.
Wonderlabz offers solutions such as player account management and back-office platforms, which LiveScore Group CEO Sam Sadi credited as playing a critical role in the operator’s media to betting convergence strategy. Sadi expressed excitement about the acquisition, calling Wonderlabz one of the most exciting businesses in the global software development space. He sees the acquisition as an opportunity to develop a world-class tech hub in Cape Town and increase the technical capability of the business.
Wonderlabz CEO Ben Johansen also expressed enthusiasm about the new partnership, stating that joining LiveScore Group allows their team to play a key role in the future of the sports media and betting industries. This acquisition comes on the heels of LiveScore Group’s partnership with Kambi, demonstrating the company’s commitment to creating memorable experiences for users by leveraging technology and in-house product teams.
In addition to the Wonderlabz acquisition, LiveScore Group received a £50.0m (€57.5m/$61.5m) investment from Swiss-based media and tech firm Ringier AG last year, further accelerating its global expansion plans. The company’s media arm is active in multiple global markets and has sportsbooks operating in countries such as Great Britain, Ireland, the Netherlands, and Nigeria, with planned launches in Africa and Bulgaria.
According to CEO Sadi, the sportsbook will serve as a revenue driver to support the expansion of the media business, with the ultimate goal of developing a market-leading integrated sports media operation. This acquisition and recent partnerships indicate LiveScore Group’s ambition to grow its presence and capabilities in the sports media and betting industries.