News

OSN-Anghami Merger Creates New MENA Media Giant

The combined entity will leverage Anghami’s advanced infrastructure to enhance the streaming experience, with OSN integrating 18,000 hours of premium content.

Published

1 month ago

April 5, 2024

Nour Nasir

Anghami

In a significant development, OSN has secured a controlling stake in Anghami, consolidating its position as the Middle East’s premier online media and streaming service provider. Initially announced in November 2023, the acquisition has now received all necessary regulatory approvals.

Anghami stands out as the leading music technology platform in the Middle East and North Africa, boasting a strong market presence and rapid growth. With OSN Group now owning 55.45% of Anghami’s shares (valued at $3.69 each, representing a 1.9x of the closing price on March 28), the combined entity emerges as a formidable media force.

This strategic move unites 120 million registered users and around 2.5 million paid subscribers, and will generate nearly $100 million in revenue upon completion. The merger integrates OSN+’s extensive library of premium video content, spanning 18,000 hours, with Anghami’s vast catalog of over 100 million songs and podcasts.

Moreover, the combined entity will leverage Anghami’s advanced technological infrastructure to enhance the streaming experience through AI-driven hyper-personalization and upcoming cutting-edge products.

Also Read: Talabat And Truecaller Enter Strategic Partnership

Elie Habib, co-founder and CTO of Anghami will assume the role of CEO in the merged company, underscoring a commitment to continuity and expertise. Meanwhile, Joe Kawkabani will remain at the helm as CEO of OSN Group.

Anghami’s journey has been marked by several transformative deals, including a SPAC buyout culminating in a listing on Nasdaq New York, reflecting its evolution and resilience in the market.

The Middle East’s media landscape continues to witness dynamic shifts, evident in notable events such as the high-profile IPO of Saudi MBC Group on Tadawul and the acquisition of Starzplay Arabia by e& Group’s E-Vision and ADQ. The developments highlight the region’s growing dominance of the global media industry.

News

Yango Showcases AI Robots Amid Rising Fulfillment Costs

The company is debuting the high-tech solutions at this year’s Seamless Middle East event, where attendees can experience live demonstrations.

Published

18 hours ago

May 15, 2024

Nour Nasir

Yango

Global tech company Yango is debuting its AI-driven warehouse robotics and pick-and-place solutions at the Seamless Middle East event, which is currently running in Dubai (May 14-16). The technologies aim to combat the rising fulfillment costs that are burdening the e-commerce, retail, logistics, and manufacturing sectors.

In e-commerce, fulfillment now represents one-third of all operating expenses. Global giant Amazon saw fulfillment costs rise from 31% of net sales in 2021 to 36% in 2023. Yango’s solutions could provide a much-needed remedy to these escalating figures.

At Seamless Middle East, attendees can experience live demonstrations of Yango’s robotic pick-and-place hardware. This technology leverages “advanced computer vision” to allow stationary robots to perform like human operatives while still managing to move 800 items per hour.

Yango has also introduced stock-taking, goods, and pallet-moving solutions to streamline inventory management and fulfillment. The company’s robots can autonomously navigate warehouses and work together with other machinery to get tasks done faster and more accurately.

Also Read: Plans Underway For Massive Middle East Autonomous Freight Network

Alexei Filippov, Head of Global Business Development at Yango Robotics, said: “As fulfillment costs continue to rise, our warehouse robotics solutions come at a crucial time to help businesses not just survive but thrive. Our new robotics pick-and-place platform, mobile warehouse robotics solutions, and other technologies show Yango’s commitment to innovation and efficiency [and] we’re excited to debut [them] at Seamless Middle East”.

Yango is also showcasing further technologies at the exhibition, including autonomous delivery robots and the AI-powered White Label App and AI Shelf Monitoring System for retail applications.

To learn more about Yango’s solutions and their capabilities, visit the company’s stand (H2-G36) during Seamless Middle East, running until the end of May 16, or find Yango’s thought leaders at one of the event’s panel sessions.