Nordic online betting operator Cherry AB saw its online revenues triple in 2016 following the acquisition of sports betting operator ComeOn Malta.

On Tuesday, Cherry reported that its Q4 revenue had spiked 201% to SEK 519m (US $57.9m), while earnings were up 353% to SEK 106m. Full year 2016 group revenue gained 109% to SEK 1.1b, while earnings rose 393% to SEK 177.7m.

The surge came largely as a result of the May 2016 acquisition of Malta-based ComeOn.com, a deal that transformed Cherry into the “third largest player in the Nordics.” ComeOn’s impact drove Cherry’s online revenue up 294% while active customer ranks rose 339%.

New CEO Anders Holmgren, who was officially appointed permanent CEO this week after taking over active CEO duties from the retiring Fredrik Burvall in January, said the combination of Cherry and ComeOn made the tandem “a serious player for the future.”