This story was published more than 3 years ago.
Gaming firm Cherry AB has announced that they've opted to pick up 44% additional stock in Game Lounge, growing from the 51% that the company invested in 2015.
The total stake in Game Lounge for Cherry is at 95%, with the remaining 5% of the company being held by the group's founders. Those two founders, Jonas Cederholm and Fredrik Langeland also will stay on as the CEO and Head of Sales. The purchase is being made at 4.5 times the company's 2017 profits of the group's affiliate operation as well as 6 times Game Lounge's white label business.
Speaking about the deal Cherry CEO Anders Holmgren said, "Game Lounge holds a strong position in a growing market. Game Lounge's business model is remarkably scalable, the company has unique capabilities in search-engine optimisation (SEO) and is the recognised standard in affiliation within the gaming industry and we see great potential to expand the scope of the business to also include other segments, such as the loan affiliate website Lainat.fi, acquired by Game Lounge in November."
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