(PRESS RELEASE) -- Cherry AB has exercised its option to acquire 7.8% of the shares of Highlight Games Ltd. In addition, Cherry has acquired shares corresponding to 15.1% 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% of outstanding shares.
Cherry has exercised its option to acquire shares corresponding to 7.8% and acquired additional 15.1% 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% 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 Italy 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.