Digital Sky Technologies, the maverick Russian internet company that has invested in both Facebook and Zynga, scored a strategic investor and $388 million in cash as part of a multi-part investment transaction.

Myriad International Holdings, a subsidiary of media company Naspers, is taking a 28.7 percent stake in DST. In return, Capetown, South Africa-based Naspers will give its 39.3 percent stake in Russian email service firm to DST, which will now own 99.9 percent of On top of that, Naspers is investing $388 million in cash in DST.

On top of that,’s management will convert its shares into DST stakes. On top of owning, which has 50 million email accounts, DST owns a number of massively multiplayer online games and a big social network in Russia. Naspers and DST have co-owned for the past three years.

Yuri Milner, chief executive of DST, said the deal will strengthen the alliance between DST and Naspers. DST has scored a lot of attention in the west for its big investments in Facebook, Zynga and Groupon. It was founded in 2005. In April, DST raised $300 million from Chinese internet giant Tencent.

[photo credit: demidov]