E-Vision, from e& (previously known as Etisalat Group), and ADQ, an Abu Dhabi-based investment and holding company, today announced the signing of a binding agreement to acquire a majority equity stake of circa 57% in Starzplay Arabia, a leading Subscription Video on Demand (SVOD) and streaming service provider in the Middle East and North Africa.
The e& led consortium will acquire a controlling stake in Starzplay Arabia based on a post-money valuation of USD 420 million, while also investing E-Vision’s existing stake and secondary investments to join the other existing shareholders, including STARZ and SEQ Investors. STARZ and its parent company Lionsgate will maintain commercial agreements for content licensing to the venture. The transaction remains subject to regulatory approvals and certain administrative procedures.
Starzplay Arabia has close to 2 million subscribers across 19 countries, giving E-Vision an opportunity to further strengthen its lead in content aggregation and access the fast growth video DTC streaming business in MENA region. This will enable the launch of new product lines, 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.
With this joint investment, Starzplay Arabia can leverage media content delivered by both E-Vision and ADQ portfolio companies, further optimising its content acquisition spending. Additionally, Starzplay Arabia will also gain significant scale through immediate access to e&’s vast customer base. Under E-Vision, the company stands to benefit from improved economies of scale and can substantially accelerate deployments across key markets in the region.
Also published on Medium.
