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Anghami, Inc., a music streaming platform and service in the Middle East and North Africa, and Vistas Media Acquisition Company, Inc., a Nasdaq-listed listed special purpose acquisition company, announced that the shareholders of Vestas Media Acquisition Company have voted to approve The proposed merger of the business of the two companies, during a special meeting held on January 19. Approval of the merger was about 98% of the total votes cast.
The business combination is expected after meeting the usual closing conditions, after which the common shares and the combined company’s warrants will begin trading on the NASDAQ Stock Exchange under the symbols “ANGH” and “ANGHW”, respectively.
Anghami is the digital technology platform with the largest catalog of more than 57 million songs available to more than 70 million users. When Anghami was launched in 2012, it was the first music streaming platform in the region. By digitizing the music sector in the region, the platform has become the most popular and prominent music streaming brand in the Middle East and North Africa. Today, Anghami provides licensed content from the most important Arab companies, artists and independent distributors. It also provides music from the most important international brands such as “Universal”, “Sony” and “Warner”, and is constantly providing new licensed content.
Anghami is headquartered in Abu Dhabi, with offices in Beirut, Dubai, Cairo and Riyadh. It is also active in 16 different countries across the Middle East and North Africa region. It is the only service available in English, Arabic and French; It is also always close to its customer base, not only through its presence in various parts of the region but also thanks to the 56 million user data points it processes daily.
Vestas Media Acquisition Inc. is a “blank cheque” company, or what is known as a “Special Purpose Acquisition Company”, established for the purpose of conducting mergers, stock exchanges, asset acquisitions, stock purchases, reorganizations, or Consolidation of similar businesses with one company or one or more entities in the global media and entertainment sector.
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