Cherry SE successfully completes acquisition of Swedish e-sports equipment specialist Xtrfy Gaming AB

Cherry SE successfully completes acquisition of Swedish e-sports equipment specialist Xtrfy Gaming AB

Munich, January 17, 2023 – Cherry SE [ISIN: DE000A3CRRN9] has successfully completed the acquisition of the entire business shares in Xtrfy Gaming AB, Landskrona (Sweden), as well as in Built on Experience AB, Landskrona (Sweden), (together "Xtrfy").

"Together with the Xtrfy team we increase our presence in the important e-sports market," commented Oliver Kaltner, CEO of Cherry SE. " The networking of Xtrfy in the global e-Sports scene offers us a substantial opportunity for further strategic growth in the GAMING business area. To this end, we are working on a joint product roadmap and the synchronization of marketing and sales plans. The goal is to provide relevant support to the gamer community through a range of innovative and performance-enhancing devices. The Xtrfy team is a valuable addition to our global Cherry family."

"The timing for the acquisition is ideal from our point of view," added Joakim Jansson, managing director and co-founder of Xtrfy. " With the launch of new products this year and a greater international market presence in the future, we can further accelerate our growth momentum in the premium segment for gaming devices and offer even greater added value to the e-sports scene."

Xtrfy was founded in 2013 in Landskrona, Sweden, by CEO Joakim Jansson and CTO Erik Jensen, with around 12 employees and revenues of around EUR 7 million in Financial Year 2022. Products are developed in close collaboration with leading international professional gamers by Xtrfy at its Landskrona facility; its current product portfolio focuses mainly on mice and keyboards as well as other peripherals such as specialty mouse pads and headsets. Xtrfy holds a number of patents and trademarks in its core markets.

The purchase price amounted to approximately EUR 5 million and was paid for in approximately one third with treasury shares of Cherry SE.

More information on Xtrfy is available online at: https://xtrfy.com/.

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About Cherry

Cherry SE [ISIN: DE000A3CRRN9] is a globally operating manufacturer of high-end mechanical keyboard switches and computer input devices such as keyboards, mice, and headsets for applications in the worlds of gaming, e-sports, office and hybrid workplaces, industry, and healthcare. Since it was founded in 1953, Cherry has been synonymous with innovative, high-quality products developed specifically to meet the various needs of its customers.

Cherry has its operational headquarters in Auerbach in Germany's Upper Palatinate region and employs over 500 people in production facilities in Auerbach, Zhuhai (China), and Vienna (Austria) as well as in various sales offices in Auerbach, Pegnitz, Munich, Landskrona (Sweden), Paris, Kenosha (USA), Taipei, and Hong Kong.

More information is available online at: https://cherry.de/

Contact:

Dr. Kai Holtmann

Investor Relations

Einsteinstraße 174, c/o Design Offices Bogenhausen, 81677 Munich, Germany

Postal address: Cherrystrasse 2, 91275 Auerbach, Germany

T +49 (0)175-1971503

F +49 (0)9643 20 61-900

E-mail: kai.holtmann@cherry.de