Nigerian singer Oluwatosin Ajibade, popularly known as Mr Eazi, has sold Vydia, the portfolio company of his venture capital fund, Zagadat Capital.
He sold the company for the whopping sum of $1 billion.
Gamma, an American company, purchased the digital audio and video distribution infrastructure company.
Larry Jackson, a former Apple Music executive, owns Gamma, a music and technology company.
In a statement on the acquisition, Jackson stated that Vydia exemplifies Gamma’s vision as an idea firm.
The transaction is the largest in Afrobeats history.
Mr Eazi also runs the music distribution site emPawa.
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