The UK broadcaster will run a ten-part version of the show, with its in-house prodco Potato making the show.
The family gameshow has contestants take on a range of water-based challenges. It originated in the Netherlands and comes from ITV-owned Talpa, which has already sold it into Australia.
The UK version, which includes a Christmas special and a highlights show, will be filmed in Malta and several other deals are understood to be in the offing for the series with the southern European island likely the the centre for a production hub.
Michael Kelpie, managing director of Potato, said: “Everybody loves a great waterpark when they’re on holiday and Cannonball is the gameshow version of the best waterpark in the world.”
Maarten Meijs, managing director of Talpa, said: “The fun, summer vibe of the show has already made the format a great success in Australia and The Netherlands, and we’re looking forward to announcing more territories where Cannonball will make a splash soon.”