OSN+ and Anghami Inc. have successfully concluded their landmark transaction after receiving all regulatory approval. As per the deal, OSN Group secured a majority stake of 55.45% in Anghami, valuing each share at $3.69. This acquisition between two streaming platforms in the Middle East, now commands a user base exceeding 120 million registered users, with around 2.5 million subscribers contributing to their collective revenue of nearly $100 million.
The newly formed association will capitalize on the synergies between Anghami’s vast collection of over 100 million songs and podcasts, and OSN+’s premium video content library, boasting 18,000 hours. Furthermore, the acquisition will see the incorporation of Anghami’s advanced technological infrastructure, including AI-driven hyper-personalization tools, aimed at elevating the overall streaming experience for users.
Anghami’s co-founder and CTO, Elie Habib will be the CEO of the combined entity, while Joe Kawkabani will maintain his position as CEO of OSN Group. Established in 2012, Anghami is the first and fastest-expanding music technology across the Middle East and North Africa, offering a wide range of Arabic and international music, entertainment, and podcast options. It has licensed content from independent artists and collaborated with major music labels and global distributors.
OSN+, on the other hand, is the leading local premium service in the region which is famous for its exclusive global and local content. It provides a comprehensive entertainment experience through a wide array of popular series and movies by partnering with major studios.
