Livescore Group Secures £50m Boost
London-based LiveScore Group and Swiss-based media and technology company Ringier AG have announced significant strategic partnership.
The new agreement will see Ringier AG make a £50m investment in LiveScore Group’s sports media and gaming business.
The deal will look to fuel the expansion of LiveScore Group, which includes brands such as LiveScore, LiveScore Bet and Virgin Bet.
Now, the recently created Ringier Sports Media Group division will hold portfolio of businesses which aim to ‘change the way global audiences interact and engage with sport.’ The new strategic investment will specifically focus on accelerating growth across key Central and Eastern European territories, regions in which Ringier’s current sports media assets operate.
Following the investment, Stilian Shishkov will join the Supervisory Board of LiveScore Group. Shishkov is currently Senior Partner of the Ringier Sports Media Group, as well as founder and CEO of Ringier`s Sportal Media Group in Bulgaria.
Global independent investment bank Moelis & Company LLC acted as financial advisor and UK-based CMS acted as legal advisor to LiveScore Group, with DLA Piper acting as legal advisor and KPMG as financial advisor on the Ringier AG side of the deal.
Sam Sadi, CEO LiveScore Group, said, “This is a hugely significant day for LiveScore Group, as we take a significant step forward following a £50m strategic investment from Ringier which values our business at £500 million.
“Ringier, with its Sports Media Group, is the perfect partner as we look to accelerate our expansion into Central and Eastern European territories, given their outstanding expertise, assets and relationships.”
Noel Hayden, Executive Chairman LiveScore Group Board, added, “I’m excited to see two of the most innovative sport and media businesses form a game-changing new relationship. This is a breakthrough moment which will allow LiveScore Group to maximise strategic opportunities together with Ringier, and to deliver better experiences and value for sports fans around the world.”
Marc Walder, CEO Ringier AG, added, “From delivering real-time sports scores and free-to-air live streams to millions of global users, to offering the most innovative and trusted sportsbook betting opportunities, LiveScore Group has demonstrated it is already a true industry leader and will be a fantastic business partner for Ringier.
“Together, we aim to enhance, and increase the enjoyment of sport, through innovative products, and immersive experiences under the operational lead of the Ringier Sports Media Group. With LiveScore Group’s support we will better understand the way people feel about sport and what it means to them. Our vision is to fuel the fans’ passion for sport.”
