TPG Growth acquired 75% of Trace’s shares. The new majority shareholder of the group obtained these shares of the Swedish group MTG, thanks to an agreement at the end of which the latter leaves the capital of Trace.
Launched in 2003, TRACE runs initiatives that include subscription-based streaming service TRACE Play, South African mobile virtual network operator (MVNO) TRACE Mobile, and tailored TV channels available in nine languages, such as TRACE Naija for Nigerian customers and TRACE Mziki, the leading music channel in East Africa.
“By partnering with TPG Growth, a globally recognized investor in its ability to support businesses in growth and support their rapid growth, we will capitalize on our successes and accelerate our transformation into a leading African entertainment group. urban. We will build on our unique assets, as well as TPG Growth’s long history in companies that have revolutionized entertainment and technology, “commented Olivier Laouchez, co-founder of Trace.