OSN+ and Anghami, music and entertainment streaming platforms, have announced a deal to merge.
The merger will see content from both the companies come together under one common app.
The new platform will combine Anghami’s technology and music catalogue with OSN+’s library of video content.
The platform will also aim to deliver a digital streaming experience driven by AI-driven hyper-personalisation that prioritises recommendations based on user preference.
Elie Habib, co-founder of Anghami, will take over the new combined business as the CEO.
He said: “Joining forces with OSN+ is a leap in Anghami’s journey to reinvent entertainment in the Arab World.
“We’re bringing together technology, music and video to build a comprehensive media ecosystem. It’s a chance to deepen our connection with our users and to create something they will truly love.”
Joe Kawkabani, CEO, OSN Group, added: “This is a major milestone in OSN’s journey as we continue to scale up our streaming business.
“Combining OSN+ content with Anghami’s technology enables us to deliver the best of entertainment all in one place for our customers, ensuring we are continuously evolving our offering to meet their needs.
“As two home-grown entities with an unmatched understanding of the local market, we are confident that this new offering will change the face of the regional streaming landscape.”
The merger will take place through OSN Group’s investment into Anghami, where it will own a majority stake in the music streaming company, while Anghami will continue to list its shares in the NASDAQ stock market.
In addition to its stake in Anghami, OSN will continue to run its linear TV business OSNtv, with Joe Kawkabani as Group CEO.
The merger and transaction is expected to close in the in the first quarter of 2024.
