Swedish online betting operator Cherry AB made news last week when it announced that it was in the final stages of acquiring ComeOn Malta Ltd., the parent company of online casino and sports betting site ComeOn.com.

In an interview with CalvinAyre.com, Cherry CEO Jonas Wahlander said they expect major push courtesy of ComeOn’s “strong sportsbook presence,” not only in the Nordics.

“ComeOn has a strong sportsbook presence, which is something Cherry has been working to expand recently, so that will be a major boost to our total offering,” Wahlander said. “The UK is a particularly interesting one for us, and a market where ComeOn has a strong presence. We believe we can expand further in the UK with our multiple brands, such as CherryCasino and Eurolotto. ComeOn will also strengthen our position in German-speaking markets, where Cherry has been making rapid progress in recent months after acquiring the Almor brands last year and where Mobilbet will sit perfectly in our product mix.”

The acquisition, however, comes with a hefty price tag. The Swedish operator agreed to a pay a maximum total consideration of €280 million for the whole ComeOn enchilada, which will be paid in two tranches—the first totaling €80 million in half cash, half new Cherry shares to cover the 49 percent stake.