DLA Piper has advised Zvuk, a Russian music streaming service, on its sale to Sberbank, Russia’s largest bank. Having joined Sberbank’s digital ecosystem, spanning from food delivery to telemedicine, Zvuk is positioned to become a music streaming leader in Russia.
Established in 2010, Zvuk is among Russia’s music streaming pioneers. With more than 6 million registered users and 40 million songs from the world’s top copyright holders, the service is available in Russia and other CIS countries. Following the transaction, Zvuk (now branded as SberZvuk) will be integrated into Sberbank’s other digital products, complementing and improving the current services.
The DLA Piper Moscow-based Corporate team was led by partner and global co-chair of Emerging Growth and Venture Capital Leo Batalov, assisted by associate Tsvetan Naidenov. Further transactional support was provided by senior associate Georgy Vinogradov and associates Yulia Berezina and Dmitry Kravchenko.
Partner Leo Batalov commented: “The successful completion of this transaction is yet another illustration of DLA Piper’s unrivalled ability to represent tech clients in Russia and of the deep market knowledge and understanding that we hold, all of which is highly regarded in the market.”
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