Popular Nigerian singer and business mogul, Oluwatosin Ajibade, otherwise known as Mr Eazi has sold Vydia, the portfolio company of his venture capital fund, Zagadat Capital, for $1 billion.
BrandNewsDay reports that Vydia, the digital audio and video distribution infrastructure company was acquired by an American firm, Gamma.
Gamma is a music and technology firm owned by former Apple Music Executive, Larry Jackson.
The digital audio and video distribution infrastructure company was acquired by the American firm, Gamma.
Speaking on the acquisition, Jackson said:: “Gamma is built with the flexibility and aptitude that creators need to connect with fans on all formats and across all channels – with transparency and no restriction.
“We are a progressive media company powered by the best-in-class content distribution and analytics software by way of our Vydia acquisition, and central to its core, gamma is an ideas company.”
The deal is the biggest in the history of Afrobeats. Mr Eazi is also the owner of the music distribution platform Empower.
The platform has previously worked with artists like Mr Eazi, Fave, Joeboy, Darkavibes, and Bella Alubo.