LiveScore Group, the home of several sports and sports betting companies, has inked an agreement with Ringier AG, an innovative, digitalized and diversified Swiss media and tech company. The latter agreed to provide LiveScore with an investment of $57.4 million.
LiveScore Receives a Huge Investment
LiveScore will use the funding to boost its various sports data and betting brands, including LiveScore, LiveScore Bet and Virgin Bet. In addition, the money will help it improve customer acquisition and channel more people towards its products.
In addition, the investment will help LiveScore improve its growth efforts in the Central and Eastern European regions. Ringier is a company with a lot of experience in Europe and has an interest in helping LiveScore expand its footprint. The Swiss tech giant has previously invested in other Central and East European businesses and is well-familiar with the region’s intricacies.
In return, LiveScore will add Stilian Shishkov, senior partner at Ringier and founder of the company’s Bulgarian sports media group, to its supervisory board.
Ringier Trusts LiveScore’s Expertise
Marc Walder, chief executive officer of Ringier, spoke about the new deal. He said that LiveScore Group has already proven itself as a genuine industry leader when it comes to sports results, sports live streams and sports betting content. Walder noted that he trusts LiveScore’s expertise and believes the company will be a great business partner for Ringier.
Walder also spoke about his company’s ambitions for this partnership. He said that LiveScore and Ringier will work together to enhance the thrill of enjoying sports through innovative products and immersive experiences. According to Walder, Ringier Sports Media group will head these operations and, with LiveScore Group’s aid, will provide fans with unforgettable sports and sports betting memories.
Sam Sadi, chief executive officer of LiveScore Group, said that the day of the agreement is a “hugely significant day” for the company. He said that this investment is a very significant step forward and will help LiveScore’s business valuation grow to $572 million.
Sadi added that Ringier and its Sports Media Group are the perfect partners for LiveScore. According to the CEO, their vast experience, assets and partners will be of great help with LiveScore’s expansion efforts in the Central and Eastern European regions.
Three months ago, LiveScore inked another deal, this time with Spotlight Sports Group. The latter agreement saw Spotlight power LiveScore’s sports betting brands with its cutting-edge Superfeed racing-oriented solution.