e& subsidiary E-Vision and holding company ADQ have completed their acquisition of 57% of Starzplay Arabia, with E-Vision committing to pay up to $130 million for the video on demand service.

A statement to Abu Dhabi Securities Exchange (ADX) from e& said the acquisition is in line with its strategy to scale up the entertainment segment of e& life’s consumer digital unit by accelerating E-Vision’s development of its video streaming segment.

E-Vision now owns a 66.7% controlling stake in the acquired portion of the Starzplay, and is committed to pay up to $130 million in cash and in kind, including a component linked to the earn-out, e& said.

“The transaction is not associated to related parties and Starzplay Arabia will be consolidated into E-Vision’s financials effective from October 2022,” the statement concluded.