Oluwatosin Ajibade, widely known as Mr Eazi, a Nigerian artist and business entrepreneur, has sold Vydia, a portfolio company of his venture capital fund, Zagadat Capital, for $1 billion.
Gamma, an American enterprise, has purchased the digital audio and video distribution infrastructure company.
Larry Jackson, a former Apple Music executive, owns Gamma, a music and technology company.
The digital audio and video distribution infrastructure company was acquired by American firm, Gamma.
In response to the deal, Jackson stated: “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.”
Vydia has previously collaborated with Akon, Kanye West, Mr Eazi, and Anuel.
The transaction is the largest in Afrobeats history. Mr. Eazi also owns the music distribution site emPawa.
Previously, the site collaborated with musicians such as Mr Eazi, Fave, Joeboy, Darkavibes, and Bella Alubo.