Anghami and OSN+ Successfully Complete Milestone Transaction, Creating an Entertainment Powerhouse

Entertainment

Anghami and OSN+ Successfully Complete Milestone Transaction, Creating an Entertainment Powerhouse

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April 2, 2024

Anghami and OSN+ Successfully Complete Milestone Transaction, Creating an Entertainment Powerhouse

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The transaction has obtained all required regulatory approvals for profitable closure

OSN Group’s funding in Anghami offers it a majority stake at a valuation of $3.69 per share

ABU DHABI, UAE, April 2, 2024 /CNW/ — Anghami Inc. (NASDAQ: ANGH) (“Anghami”), a number one music and leisure streaming platform, and OSN+, a number one video streaming platform for premium content material, at this time introduced the profitable completion of their landmark transaction after receiving all regulatory approvals.

OSN Group has acquired 55.45% in Anghami, giving it a majority stake at a valuation of $3.69 per share, 1.9x the closing value of the inventory on Thursday twenty eighth of March. This deal will lead to an organization with over 120 million registered customers, circa 2.5 million paid subscribers and near $100 million in income at closing.

The mixed entity brings collectively OSN+’s premium and unique library of 18,000 hours of video content material with Anghami’s wealthy catalog of greater than 100 million songs and podcasts. Moreover, it would profit from Anghami’s robust tech stack, delivering an enhanced streaming expertise with AI-driven hyper-personalization and shortly to be introduced best-in-class merchandise.

Elie Habib, Anghami Co-founder and CTO, will lead the mixed entity as incoming Anghami CEO, whereas Joe Kawkabani will stay as OSN Group CEO.

About Anghami

The first, most-established and fastest-growing music expertise platform within the Middle East and North Africa area, Anghami is the go-to vacation spot for Arabic and International music, podcasts and leisure. With an in depth ecosystem of music, podcasts, occasions and extra, Anghami offers the instruments for anybody to create, curate and share their voice with the world. Launched in 2012, Anghami was the primary music-streaming platform in MENA to digitize the area’s music. Today, it has the most important catalog comprising greater than 100 million songs and licensed content material from main Arabic labels, impartial artists and international distributors, obtainable for 120 million registered customers. Anghami has established 40+ telco partnerships to facilitate subscriptions and buyer acquisitions, in parallel to constructing long-term relationships with, and that includes music from, main music labels together with Universal Music Group, Sony Music Entertainment, Warner Music Group and the Merlin Network. Anghami is consistently licensing and producing new and unique content material.

Anghami additionally operates OSN+ is the area’s main native premium streaming service, that includes an unimaginable line-up of unique international and native curated content material. Led by its long-term partnerships with main studios together with HBO, NBC Universal, Paramount+, Endeavor Content, MGM, and Sony, the platform ensures the most recent content material similtaneously the US, together with critically acclaimed sequence and must-see motion pictures, in addition to world-class Arabic unique content material and OSN+ Originals.

OSN+ will be accessed by all of your favourite units, together with main TV platforms, all iOS, and Android units, and from the online. Find out extra and stream now at www.osnplus.com

Headquartered in Abu Dhabi, Anghami has places of work in Beirut, Dubai, Cairo, and Riyadh and operates in 16 nations throughout MENA. To be taught extra about Anghami, please go to: https://anghami.com

About OSN

OSN is the main service for premium leisure servicing the MENA area in 22 nations that includes unique and in-demand premium international and native hit television sequence and movies. OSN delivers content material throughout a number of divisions: OSN+, OSNtv, and b2b choices in each market. Home to essentially the most compelling content material from world wide, OSN spearheads premium content material together with Western, Arabic, Turkish and extra throughout divisions, distinctively identified for broadcasting the most recent content material on the identical day because the US, together with widespread sequence, blockbuster motion pictures, and the most effective in youngsters and life-style programming.

OSN’s ambition is to ship leisure all over the place for everybody, which is knowledgeable by the corporate’s three key pillars: A customer-first strategy, unequalled unique content material, and unbeatable worth. By seamlessly bringing collectively Global Network Partnerships, Studios, and Originals, together with reimagined Linear channels, OSN offers an ecosystem of leisure.

Forward Looking Statements

This press launch accommodates forward-looking statements about our enterprise and operations. Anghami’s forward-looking statements are based mostly on Anghami’s present expectations and estimates of future occasions and traits, which have an effect on or might have an effect on Anghami’s companies and operations. Although Anghami believes that these forward-looking statements are based mostly upon cheap assumptions, they’re topic to quite a few dangers and uncertainties and are made in gentle of data presently obtainable to Anghami. Many essential elements might adversely have an effect on Anghami’s outcomes as indicated in forward-looking statements. An in depth dialogue of those elements that might trigger precise outcomes and occasions to vary materially from Anghami’s forward-looking statements is included in Anghami’s filings with the U.S. Securities and Exchange Commission (“SEC”), together with the Annual Report on Form 20-F filed with the SEC on May 16, 2023, as up to date by subsequently filed experiences with the SEC. Anghami undertakes no obligation to replace forward-looking statements to mirror occasions or circumstances occurring after the date of this report.

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