Stockholm-listed gaming operator Cherry has increased its shareholding in virtual sports specialist Highlight Games by £5.4m.
Cherry has exercised its option to acquire a further 7.8 per cent stake in the business at a total purchase price of £5.4m, and has also acquired shares corresponding to 15.1 per cent of Highlight Games from parties not active in the company.
Following the transactions, Cherry now owns a 60.4 per cent majority stake in Highlight Games, with the supplier to be consolidated into Cherry’s financial results as of August 7th within its Game Development division.
Highlight Games creates virtual sports content using footage from historical football matches. It has started deploying its Soccerbet game across several African countries, and will also be launching in Italy with Eurobet.
Shares in Cherry AB (STO:CHER) were trading up 2.22 per cent at SEK64.40 per share in Stockholm Wednesday morning.