LiveScore Group has acquired Cape Town software development partner Wonderlabz to bolster scale efficiencies of its betting and media units following a period of unprecedented growth.
This morning, LiveScore announced that it had taken full control of Wonderlabz, increasing its previous 25% investment in the software studio to complete 100% ownership.
Of strategic importance, the acquisition enables LiveScore to enhance its technology and engineering resources by adding over 100 global employees from Wonderlabz.
The acquisition follows a £50m investment in LiveScore Group from parent group Ringier AG, to expand the flagship portfolio of LiveScore Media, LiveScore Bet, and Virgin Bet brands.
Spearheading the acquisition, LiveScore Group CEO, Sam Sadi, stated: “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.”
In its former relationship, Wonderlabz was deemed instrumental in enhancing the mobile and digital platforms for brands such as LiveScore and LiveScore Bet, significantly contributing to the convergence of both apps for betting audiences.
Backing its investment, LiveScore underscored Wonderlabz’s excellence in software development, anchored by its top-tier Lithium PAM and back-office solutions, as well as its esteemed team of software professionals and engineers.
The growth prospects of the LiveScore, LiveScore Bet, and Virgin Bet brands will be strengthened by the direct support of the Wonderlabz Cape Town technology and innovation hub.
Wonderlabz CEO, Ben Johansen, added: “There is no doubt that with LiveScore Group, we are joining 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.
“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 centered around world-class software development talent, working with the likes of LiveScore Group to develop industry-leading tech solutions.”