An international group of investors led by e& (formerly known as Etisalat Group) and Abu Dhabi-based investment company ADQ announced last week that they have signed a binding agreement to purchase a majority 57% equity stake in Starzplay Arabia.

Starzplay Arabia is one of the leading video entertainment streaming services in MENA with around 2 million subscribers across 19 different countries. The platform has raised a total of $150m to date and recently signed a deal with Abu Dhabi Investment Office to create a private cloud system, which can be used by other media companies in the emirate.

e& and ADQ see big potential for Starzplay Arabia. According to ADQ's Chief Investment Officer Jaap Kalkman, "Starzplay Arabia has developed a unique market positioning in the MENA region and is well positioned for further growth.”