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NEWS 1 December 2017

Cherry increases its share in Highlight Games to 37.5%

By Caroline Watson
It was announced today that Cherry has acquired an additional 12.5% of the shares in Highlight Games, bringing its overall stake in the company up to 37.5%.

Earlier this year in May, Cherry spent £2.4m in buying 25% of the gaming technology company, with the added option to later acquire an additional 26% share over the following 18 month period.

The new cash deal has now seen Cherry up its stake in the company to 37.5%, with the possibility of buying out more in the future.

If the company would wish to do so, it also has the option to acquire an additional 13.3% in two further tranches over the next 12 months.

At the time of the original deal in May, Cherry’s Chief Executive, Anders Holmgren 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.”
RELATED TAGS: Financial | Mergers & Acquisitions | Industry
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