Paris—Dentons’ Paris office advised the French startup Snips and its shareholders on its acquisition by Sonos, a leading American audio manufacturer. The value of the transaction was US$37.5 million, before adjustment.

Snips is a Parisian startup, established in 2013 by a group of founders including Rand Hindi, one of the gurus of artificial intelligence in France. Snips' shareholders included the founders, MAIF Ventures, Bpi, Korelya, Kima Ventures, ENIAC Ventures, 500 Startups, The Hive and Augusta SAS.  This successful startup has recently developed the first speech recognition software, which allows users to control connected devices with their voice, while also protecting data privacy.

Sonos is one of the world's leading audio experience companies. This California-based company, listed on NASDAQ, produces and markets wireless hi-fi systems.

The acquisition will allow Sonos to integrate Snips' innovative technologies and strategic know-how into its audio systems. It also gives the company access to the startup’s brilliant team of more than 50 professionals.

Partner Pascal Chadenet led the Dentons team, which included associates Tanit Gendre and Alice Sevestre, who advised on M&A issues; Of Counsel Cécile Bayle, associate Margaux Fontan and paralegal Julia Lambert, who advised on corporate law; and Tax partner Jessie Gaston.

For more information, please visit https://snips.ai/.

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