LiveScore Group adds to tech capabilities with Wonderlabz acquisition
Operator and media firm takes 100% ownership of South African supplier to add more than 100 staff to global headcount
LiveScore Group has acquired South Africa-based software development firm Wonderlabz for an undisclosed sum.
The transaction sees LiveScore Group increase its holding in the supplier from 25% to 100%, with more than 100 staff added to the group’s total headcount.
Wonderlabz, located in the South African capital city of Cape Town, has already supplied LiveScore Group with key PAM and back-office tech to help develop its existing platforms.
LiveScore Group will now add Wonderlabz’s capabilities to its in-house operations, with the company noting the transaction will bring “significant scale” to the business ahead of a period of “substantial growth”.
The privately owned firm added that the transaction will allow the business to accelerate product development and increase its capability to expand into new markets.
The full acquisition of Wonderlabz comes little over 12 months since the £50m strategic investment in LiveScore Group from Ringier Media.
Sam Sadi, CEO of LiveScore Group, said: “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 standout 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,” he added.
Ben Johansen, Wonderlabz CEO, echoed the sentiment: “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.”