Streaming platform OSN has proposed a $30 million deal to acquire the remaining publicly held shares of music streaming service Anghami. If completed, the transaction would take Anghami private and end its listing on the Nasdaq stock exchange.
The proposed OSN Anghami deal values the remaining shares at $3.39 per share in cash. OSN already owns about 67% of Anghami, making it the company’s controlling shareholder.
However, the proposal remains preliminary and non-binding. Anghami has formed an independent special committee to review the offer and determine whether it is in the best interests of minority shareholders.
OSN Seeks Full Ownership of Anghami
The proposed acquisition marks the latest step in OSN’s investment in Anghami. By purchasing the remaining shares, OSN aims to gain full ownership of the company and operate it as a privately held business.
Going private would also remove Anghami from the reporting and compliance requirements that come with being listed on Nasdaq. Companies often choose this path to focus on long-term growth without the pressure of meeting quarterly market expectations.
The special committee will review the proposal with the help of independent financial and legal advisers. Even if the committee supports the offer, both companies must still negotiate a final agreement and obtain regulatory approvals before the deal can close.
Why Anghami Matters
Founded in 2012 by Eddy Maroun and Elie Habib, Anghami has grown into one of the Arab world’s most recognizable technology companies. It also became the first Arab technology startup to list on Nasdaq, setting a milestone for the region’s startup ecosystem.
The company started as a music streaming platform but has expanded into a broader digital entertainment service. Today, Anghami offers music streaming, podcasts, video content, and live entertainment experiences for users across the Middle East and North Africa.
Its growth has helped shape the region’s digital entertainment market while competing with major international streaming services. The company has also expanded through partnerships and exclusive content aimed at local audiences.
What the OSN Anghami Deal Means
OSN is one of the Middle East’s leading entertainment and streaming companies, offering movies, television channels, on-demand content, and original productions across the region. Full ownership of Anghami would allow the company to integrate its music and entertainment services more closely under one business.
The proposed OSN Anghami deal also reflects a broader trend in the streaming industry, where companies are consolidating their businesses to improve efficiency and strengthen their competitive position. Bringing Anghami fully into OSN’s portfolio could support long-term product development and content expansion.
For now, the proposal is only the beginning of the process. Anghami’s board committee will decide whether the offer fairly values the company before any final agreement is signed.
If approved, the acquisition would close an important chapter in Anghami’s history. After becoming the first Arab technology startup to list on Nasdaq, the company could soon return to private ownership under OSN, highlighting the continued evolution of the Middle East’s digital entertainment industry.
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