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Two Abu Dhabi Companies Acquire StarzPlay Arabia

E-Vision and Abu Dhabi holding company ADQ have bought a 57% portion of video streaming service StarzPlay Arabia.

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two abu dhabi companies acquire starzplay arabia

A consortium led by telecoms operator e& has completed a deal to acquire a majority share in the video streaming service StarzPlay Arabia.

The deal has meant that E-Vision, the entertainment arm of e&, along with Abu Dhabi holding company ADQ, now owns 57% of the MENA region’s fastest-growing video streaming service. After filing on the Abu Dhabi Securities Exchange (ADX) on Tuesday, e& issued a statement, which read:

“This acquisition is in line with e&’s strategy to scale up the entertainment segment of e& life consumer digital vertical by accelerating E-Vision’s development on the video streaming segment, and significantly enhances StarzPlay Arabia’s positioning across the entire MENA region,” says e&.

The acquisition follows an initial announcement back in March that a deal would be taking place. Starz and parent company Lionsgate will maintain commercial agreements for content licensing.

Netflix, Shahid VIP, and the UAE-based StarzPlay Arabia currently control two-thirds of the MENA region’s over-the-top services (OTT) market, with StarzPlay controlling 20%.

Also Read: How To Watch Arabic Channels In USA, Canada & Australia

The recent deal, which values StarzPlay at $420 million, will inject up to $130 million into the platform for new content acquisition and original programming from around the region, as well as Italy’s Serie A, AFC (Asian Football Confederation) games, UFC and Asia Cup cricket matches.

The video streaming service expects annual revenue to climb by 40% from the previous year, with subscribers increasing by 20% to 2.1 million.

StarzPlay aims to reach profitability by the second quarter of 2024, and for e&, the collaboration will allow custom content options for customers, who will be able to utilize 5G download speeds to watch content on the go, with future plans for immersive VR experiences and augmented reality-based shows.

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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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