LiveScore receives £50m investment from Ringier AG
LiveScore has signed a partnership to receive £50m ($57.5m) of investment from media and technology company Ringier AG.
LiveScore says this investment will help accelerate global expansion plans for its brands LiveScore, LiveScore Bet and Virgin Bet.
The sports media company adds that the investment from Ringier will supplement the share gains it has made, by leveraging its customer acquisition funnel with gaming integrations across all assets.
Ringier’s investment will fund LiveScore’s growth across Central and Eastern European territories, with expertise in funding businesses in these regions.
Following the investment, Senior Partner at Ringier Stilian Shishkov will join the Supervisory Board at LiveScore. Shishkov is the Founder and CEO of Ringier’s Sports Media Group in Bulgaria.
LiveScore CEO Sam Sadi 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 £500m.
“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.”
Ringier CEO Marc Walder 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 sports and what it means to them.”
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