Swedish gaming company Cherry has completed a double swoop and acquired 100% of the shares in Moorgate Media Ltd and gaming site NorgesSpill.com.
Under the terms of the arrangement Cherry have gained the entirety of shares in NorgesSpill, including its domain and customer database. In regard to the Moorgate Media deal, the company owns affiliate license agreements in cooperation with Web Resort.
It is understood that the acquisition of Malta-based firm Moorgate cost Cherry in the region of £2.9m, whilst NorgesSpill.com cost around £540,000.
Fredrik Burvall, CEO of Cherry, stated: “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,” he added.