Published
Mergers & Acquisitions

Cherry acquires stake in Highlight Games

Cher

cherry2016
ry AB has continued on the acquisition trail, purchasing a significant stake in industry supplier Highlight Games.

The Swedish firm has purchased an initial 25% stake in Highlight Games at a price of £2.4m, with 20% for new issued shares and 5% acquired from an existing shareholder.

The deal includes the option for Cherry to acquire a further 26%, giving it a controlling interest, in three tranches over the coming 18 months.

Founded in 2014, Highlight Games develops sports-focused virtual games for both the online and retail markets.

Anders Holmgren, CEO of Cherry, commented: “We believe that Highlight Games has significant development and revenue generating potential, which we can help it achieve within our gaming technology business area.

“We also believe that their unique product can compete with both virtual sports games and traditional slot games. The product is applicable to a variety of markets, which will further diversify Cherry’s revenue sources.”

Tim Green, CEO of Highlight Games added: “We are delighted to welcome Cherry as a significant investor in Highlight Games.

“Cherry becomes a shareholder at an exciting phase in the company’s development and will be an important strategic partner as we continue our roll-out of Soccer Bet and our other virtual sports products into our retail, online and mobile customers.”
Premium+ Connections
Premium

Lynon

 
Premium

Imagine Live

 
Premium

GammaStack

 
Premium

Revsharks

 
Premium

PIN-UP Partners

 
Premium

1xBet Partners

 
Premium

RISK

 
Premium

Digitain

 
Premium

Sport Generate

 
Premium

Galaxsys

 
 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Zeal Network SE

Stefan Tweraser

VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...