Cherry has struck a deal worth €4 million ($4.3 million) to acquire 100% of the shares in Moorgate Media, the Malta-based company that owns licence agreements in cooperation with Web Resort.
The acquisition will be paid with shares in Cherry, with the subscription price of the share being based on the average closing price of shares during the period of December 16-23.
Cherry has also agreed to acquire the domain, customer database and gaming website of NorgesSpill.com.
This acquisition will be completed in cash, with an initial payment of €600,000 being made during the first quarter of 2016, while an additional €150,000 due once NorgesSpill.com has been migrated to the Cherry platform.
Fredrik Burvall, chief executive of Cherry, said: “We are very pleased to add another acquisition that will further improve Cherry’s results and cash flow.
“NorgesSpill.com will migrate to the Cherry platform during 2016, and we are confident that we can develop the business further.”
source : www.igamingbusiness.com