Believe is acquiring full ownership of Sentric, which was held by Swiss music FinTech company Utopia since February 2022. The transaction values Sentric at €47 million on a 100% basis. The new business line will be led by Sentric’s existing leadership team.
The Reed Smith team advising on the deal was led by Global Corporate Group partner Mike Young in addition to Entertainment and Media Group partner Sophie Goossens and Nick Breen, tax partner Caspar Fox, labour and employment partner Carl De Cicco, and pensions partner William Sutton. They were supported by associates Emma Weeden, Anna Goodman-Jones, Heather Stewart, Hunter Thomas, David Stokes, Tom Gates, Hannah Kong, Jo D’Cruz and trainee Cindy Li.
Young said: “We were delighted to work with Believe on this important deal that will enable them to expand their existing services. The deal was a great fit for the firm as we combined our strong corporate capabilities with our deep knowledge of the entertainment and media industry.”
More information about the deal can be found in Believe’s press release.