Sberbank takes over one of Russia’s top cartography services
15 Jun '20
Sberbank, Russia’s largest savings bank, has formally committed to investing in the development of its future new asset, a Russian cartographic service called 2GIS, the Russian business daily RBC reported.
Under terms of the deal, Sberbank and partners are taking over a 75% stake in a company that was just prior to the transaction valued at $204.3m.
In this deal, Sberbank is reported to be pursuing the goal of “expanding its ecosystem.”
Set up back in 2004 in the city of Novosibirsk in Siberia, 2GIS now ranks the sixth most valued company in the Russian-language Internet territory; its current valuation is $320m, according to Forbes Russia. The service claims to have a monthly audience of around 50 million users in 486 cities across 11 countries.