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Anghami & OSN+ Announce Landmark Investment Deal

The collaboration will result in the first MENA platform to provide video and music, backed by a $50 million cash injection.

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anghami and osn+ announce landmark investment merge deal

Leading MENA streaming platform Anghami has announced a milestone deal that will see the music and entertainment company join forces with video provider OSN+.

According to a recent press release, combining the two home-grown brands will “offer consumers unprecedented digital aggregation of the best and latest in premium movies, TV shows, music, podcasts, and more while providing a rich and seamless user experience”.

When the collaboration is completed, Anghami will become one of the region’s largest streaming platforms, augmenting its already massive catalog of 100 million songs with 18,000 hours of video from OSN+, including content from HBO, NBC Universal, Paramount, and leading MENA studios.

anghami and osn+ announce landmark investment deal

Elie Habib, co-founder of Anghami and soon-to-be CEO of the combined venture, commented: “Joining forces with OSN+ is a leap in Anghami’s journey to reinvent entertainment in the Arab world. We’re combining technology, music, and video to build a comprehensive media ecosystem. It’s a chance to deepen our connection with our users and create something they will love”.

Joe Kawkabani, CEO of the 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”.

Also Read: Top 10 Best Freelance Platforms In The Middle East

The OSN Group has pledged to invest in Anghami at $3.65 per share — nearly four times the average price for the past month. The full transaction is expected to close in Q1 2024, at which point OSN will own a majority stake in Anghami.

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Initial Trials Of Dubai’s Driverless Evocargo Trucks Completed

Testing was announced on July 17, and the completion is a major milestone towards upgrading the region’s logistics infrastructure.

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initial trials of dubai's driverless evocargo trucks completed
Dubai Media Office

A Dubai-based company has completed the initial trials for the UAE’s first driverless trucks. The groundbreaking achievement by Evocargo, partnering with Dubai South, took place at Dubai South Logistics District, and marked a significant step towards incorporating autonomous technologies into the region’s wider logistics infrastructure.

Announced on Wednesday, July 17th, the trials featured the Evocargo N1 unmanned electric truck navigating a predetermined route within a controlled setting. The test involved interactions with common road obstacles such as cars, trucks, and pedestrians, aiming to evaluate the vehicle’s hardware and software reliability, accident prevention systems, and overall readiness for public road use.

Officials were keen to highlight that this accomplishment aligns with the UAE’s ambitious strategy to position itself as a global leader in innovation and technology adoption. The country aims to have 25% of all transportation in Dubai autonomous by 2030, underscoring its commitment to revolutionizing the logistics sector using advanced technologies.

Mohsen Ahmad, CEO of the Logistics District at Dubai South, emphasized the importance of the collaboration with Evocargo in enhancing the region’s logistics capabilities. He noted that autonomous vehicles are set to increase efficiency, reduce carbon emissions, and establish a sustainable logistics infrastructure that will benefit both Dubai and the wider UAE.

Also Read: Riyadh Developers Reveal New 45,000-Seat Murabba Stadium

Ahmed Al-Ansi, CEO of Evocargo Autonomous Logistic Services, also expressed optimism that the trials will draw new customers and investments across the Gulf Cooperation Council (GCC) countries. The partnership aims to lead in innovative tech solutions, further establishing the UAE as a pioneer in autonomous transportation.

The successful completion of the trials marks a crucial step towards realizing the UAE’s vision for a technologically advanced and sustainable future in which autonomous vehicles are expected to play a pivotal role in global logistics.

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