Sberbank announced it has completed its acquisition of 100% of shares in Zvuk and is creating a new audio streaming service SberZvuk based on it.

Mikhail Ilyichev, who headed Zvuk between 2014 and 2017, will be re-appointed as the service’s new CEO, with the current CEO, Igor Mukhin, to remain a team member.

As a result of the deal, Zvuk will be integrated into the Sberbank ecosystem as much as possible. Sberbank and Zvuk have already integrated the audio streaming service into Sberbank ID, with SberPay payment service following suit shortly.

The audio streaming service shall unite 40 million songs from the world’s top copyright holders (Universal Music Group, Sony Music Entertainment, and Warner Music Group), local and independent recording studios, and a collection of popular audiobooks and podcasts.

Original (in Russian)