International law firm CMS has advised global sports media business, LiveScore Group, on two strategic deals with South Africa-based software development specialist, Wonderlabz, and Swedish sports betting technology and services provider, Kambi.
Established in 2019, LiveScore Group is home to some of the most exciting sports and gaming brands, including LiveScore, LiveScore Bet and Virgin Bet.
The deal with Wonderlabz will see LiveScore Group’s holding in Wonderlabz increase from 25% to 100% ownership, adding significant scale to its operations by accelerating the product development process and offering expansion opportunities to key markets.
CMS Partner Rob Willis commented: “Having advised on the initial minority investment in Wonderlabz, we are really pleased to have worked again with LiveScore Group to complete the full acquisition, which will deepen its existing relationship with the Wonderlabz team and fuel further growth. We wish them every success in this new chapter.”
The deal with Kambi signals a new partnership for LiveScore Group, which will see Kambi deliver its sports betting platform, managed platform, AI-powered trading products and Bet Builder to the LiveScore Bet and Virgin Bet brands.
Rob added: “This new partnership with Kambi will allow LiveScore Group to continue its ambitious expansion plans and offer an even better experience for its users.
“Both deals bring some truly exciting opportunities for LiveScore Group, Wonderlabz and Kambi. We look forward to seeing these respective relationships blossom as they work together to realise their ambitions.”
The CMS team advising on the full acquisition of Wonderlabz was led by Rob Willis and included Jas Randhawa and Nihal Sandhu (Corporate); Oscar Webb (Intellectual Property); and Stephen Hignett and James Matthias (Tax), with additional assistance from Frode Olsen and Tarnjit Singh Shergill in CMS Norway and Yushanta Rungasammy, Diann Bishunath, Lucinda Hinxman and Charlene Ferns in CMS South Africa.
The CMS team advising LiveScore Group on its partnership with Kambi was led by Alasdair Lamb and included David Zeffman (Technology and Media); Oscar Webb (Intellectual Property); and Mark Joscelyne and Neal Chandru (Tax).
