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The affiliate company Game Lounge, a subsidiary of Cherry AB (publ) – STO: CHER-B.ST – has acquired the majority of the assets of TodaysWeb, an international internet company specialising in search engine optimization (SEO). The purchase consideration amounts to SEK 14 million and is being financed through available cash and bank balances.
The acquisition of assets in TodaysWeb comprises about 1,500 websites, certain tools and services within the field of SEO (Search Engine Optimization) and a team holding unique SEO competence.
Jonas Cederholm, CEO of Game Lounge, says: “The timing of the acquisition is perfect as we are currently in a strong growth phase. We have previously announced our ambition to enter new verticals and this acquisition will accelerate our plans. I look forward to welcoming ten new members to the Game Lounge team.”
Cherry is a Swedish innovating and fast-growing gaming company established in 1963. The business strategy is to create shareholder value by owning and developing fast growing and profitable businesses within the gaming and casino industry. Today, Cherry operates through five diversified business areas: Online Gaming, Game Development, Online Marketing, Gaming Technology, and Restaurant Casino. The objective is to grow organically in combination with strategic acquisitions of fast-growing companies. Cherry employs some 1,100 people and has about 6,900 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