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Cherry AB (publ) (Cherry) – STO: CHER-B.ST – has exercised its option to acquire 7.8 percent of the shares of Highlight Games Ltd. In addition, Cherry has acquired shares corresponding to 15.1 percent of the company from parties not active in the company. The total purchase price amounts to GBP 5.4 million. Following the transactions, Cherry’s total ownership in Highlight Games amounts to 60.4 percent of outstanding shares.
Cherry has exercised its option to acquire shares corresponding to 7.8 percent and acquired additional 15.1 percent of the shares of Highlight Games. The total purchase price amounts to GBP 5.4 million and will be financed by cash. Cherry now holds more than 50 percent of the number of outstanding shares of Highlight Games and the company is consolidated in the Cherry Group as of today, 7 August 2018, in the Game Development business area.
Highlight Games offers a unique and patented product, together with multi-year rights to use footage from inter alia historical football matches to create unique virtual sports content. The company has now started deployment of its SOCCERBET game into several African countries. In the coming months Highlight Games will be launching in Italy with Eurobet with a planned deployment strategy to include a number of the leading Italian operators as the company targets the 2 billion euro Italian virtual sports market. Looking ahead, the company is exploring a number of new opportunities across several sports in emerging markets, with its innovative sports product uniquely using archive live-action sports footage.
For further information, please contact:
For further information, please contact:
Christine Rankin, CFO, [email protected]
Anders Antonsson, IR & Communications: +46 709 994 970, [email protected]
This information was submitted for publication on 7 August 2018, at 2.00 p.m. CET.
CHERRY IN BRIEF
Cherry is an innovative and fast-growing company within gaming, entertainment and media. Established in 1963, today Cherry operates through five diversified business areas: Online Gaming, Game Development, Online Marketing, Gaming Technology, and Restaurant Casino. The Group’s objective is to grow organically in combination with strategic acquisitions of fast-growing companies. Cherry employs some 1,400 people and has about 6,700 shareholders. The Company’s class B share is listed on the Nasdaq Stockholm exchange, Mid Cap segment. More information is available at www.cherry.se
Source: European Gaming Industry News
