Anghami and OSN+ Create Entertainment Powerhouse with Successful Completion of Milestone Transaction

DENVER, Colo., Apr 02, 2024 ( Anghami Inc. (NASDAQ:ANGH) and OSN+ stated, this morning, that OSN Group acquired 55.45% of Anghami’s shares, giving it a majority stake at a valuation of $3.69 per share, 1.9x of Thursday’s closing price.

The deal will result in a company that combines OSN+’s18,000 hours of video content and Anghami’s catalog of more than 100 million songs and podcasts, as well as Anghami’s tech stack, to over 120 million registered users, circa 2.5 million paid subscribers and close to $100 million in revenue at closing.

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