E-Vision, a subsidiary of e&, and ADQ, an Abu Dhabi-based investment and holding company, has successfully completed the acquisition of 57 percent of Starzplay Arabia, a subscription video on demand (SVOD) and streaming service provider in the Middle East and North Africa.
E-Vision had made the announcement regarding the acquisition on 17 March this year and filed a statement in Abu Dhabi Securities Exchange (ADX) on Tuesday that the process has been completed.
This acquisition is in line with e&’s (formerly known as the Etisalat Group) strategy to scale up the entertainment segment of e& Life consumer digital vertical by accelerating E-Vision’s development on the video streaming segment.
The consortium, in which E-Vision owns 66.7 percent share, acquired the controlling stake in Starzplay Arabia and is committed to pay up to $130 million in cash and kind, including a component linked to an earn-out.
At the time of announcing the acquisition, Khalifa Al Shamsi, CEO, e& life, and Chairman of E-Vision, had said: “This acquisition is a major milestone for E-Vision and will be a catalyst for the newly formed e& life consumer digital vertical in e&.
“Streaming platforms have drastically changed the way we consume media and have become commonplace in households around the world. Consumer expectations have also grown in line with this expansion as the demand for high-quality content and seamless streaming continues to rise.
“With 5G’s super-fast download speeds and low latency, we have the perfect opportunity to drive the streaming experience to new heights with viewers being able to have immersive experiences within their favourite shows using Virtual Reality (VR) and Augmented Reality (AR). This new development is expected to accelerate E-Vision’s transition from focusing on the telecom network business to providing also Direct to Consumer (DTC) streaming services to consumers across the MENA region.”
The move also significantly enhances Starzplay Arabia’s positioning across the entire MENA region, which has close to 2 million subscribers across 19 countries. It will enable the launch of new product lines from E-Vision and expand geographic reach and access to advanced technical capabilities.
The acquisition provides potential for international expansion, leveraging Starzplay Arabia’s reach across 20 global telcos.
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