London-based sports media and betting operator LiveScore Group has taken over full ownership of Cape Town-based software development specialist Wonderlabz.
The acquisition accelerates the company’s product development capabilities as LiveScore targets expansion into new territories.
LiveScore previously held a 25 per cent stake in Wonderlabz, which played a significant role in developing the LiveScore sports media app and LiveScore Bet platform.
The Wonderlabz deal comes just over one year after Ringier announced a £50 million strategic investment in LiveScore.
In the past year, LiveScore has significantly accelerate its global expansion, with the acquisition of Wonderlabz increasing its in-house team with 100 new staff, as well as providing a new tech hub in South Africa.
“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. “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.”
Wonderlabz CEO Ben Johansen commented: “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.”
Last month Kambi secured a global agreement to power the LiveScore Bet and Virgin Bet sportsbook platforms.