Investment values the company at £500 million
Ringier AG has invested £50 million in sport media and gaming business LiveScore.
The funding values LiveScore Group, which includes the brands LiveScore, LiveScore Bet and Virgin Bet, at £500 million, and will be used to accelerate the company’s global expansion.
The deal sees Stilian Shishkov 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. Ringier Sports Media Group has a portfolio of businesses that work on audiences interactions with sport, including Sportal Media Group and Digital Ventures OOD in Bulgaria, Gazeta Sporturilor in Romania, Sportal.rs in Serbia and Pulse in Africa - with more expected to arrive soon.
Moelis & Company LLC acted as financial advisor and CMS acted as legal advisor to LiveScore Group. DLA Piper acted as legal advisor and KPMG as financial advisor to Ringier AG.
Sam Sadi, CEO of LiveScore Group, said: “This is a hugely significant day for LiveScore Group, as we take a significant step forward following a £50 million 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 of the 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 of Ringier AG, commented: “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.”
Robin Lingg, chairman of the Ringier Sports Media Group supervisory board, said: “Sports media is THE place where sports audiences, athletes and advertisers meet. Within its three-month existence, Ringier Sports Media Group has very purposefully put into practice its founding promise, to unite leading digital sports media brands under its umbrella. The participation in LiveScore Group is another decisive step to develop innovative products based on common technologies in the future and to benefit from the exchange of know-how. That a leading business such as LiveScore Group has agreed to work closely with us in strategic partnership is truly a tribute to our vision of sports media at Ringier.”
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