ish firm Cherry AB have today confirmed the outright purchase of a 100% share in Maltese-based online gaming operator ComeOn.

Cherry paid an initial purchase amount of €80m to ComeOn in July 2016 and will pay a further €200m to complete the acquisition.

The remaining sum will be paid through a combination of 60% cash (€125m) with the remaining 40% being made up of new shares to be issued by ComeOn.

Cherry’s governance is financing the cash portion of the purchase using a Nasdaq Stockholm issued bond valued at €200m, which is set to mature on the 11 July 2020.

It is widely expected that Cherry will now move all of its igaming businesses under the umbrella of ComeOn.

The completed deal will see Cherry AB become the third largest gaming operator in the Scandinavian region.