Published on 4th May 2016 by Andrew Mills

In a deal they say will ‘significantly strengthen’ their position in Scandinavian markets, Cherry has agreed a deal to acquire 49% of shares in ComeOn, with an option available to add the remaining 51%.With over one million registered customers (over a hundred thousand of which were active) as of the end of 2015, ComeOn operates under a number of different brands.With both brands showing growth over recent years that is higher than the market average, this appears to be a deal that is a positive move for both.

Strengthening Cherry’s position

After announcing a huge rise in revenues in 2015, Cherry is looking to go from strength to strength, and clearly anticipate that this deal will help with that.Talking about the deal, Cherry chief executive Fredrik Burvall said:“This acquisition will strengthen Cherry’s position in online gaming against competitors in Scandinavia and other European markets.“Both Cherry and ComeOn are growing considerably faster than the market as a whole, which facilitates further investments in existing brands and continued expansion in new markets.”He continued, adding:“We will add several strong brands and will profit from the strong entrepreneurial spirit within ComeOn.”

Potential synergies

According to spokesperson, Hans Martin Nakkim, ComeOn, is equally excited by the deal. Nakkim said:“Just like us, Cherry is growing quickly with a multi-brand strategy and we see a lot of potential synergies between the companies.“We look forward to staying operationally involved with the new ownership, while still having a big stake in the future growth of the consolidated Cherry.”