AVN’s established strategic partnerships with infrastructure players and capital expenditure light business model produces industry leading EBITDA margins of 61% in 2020, which are projected to improve to 75% over the next five years, with projected revenue growth CAGR of 39% to 2025.With current OTT media penetration at only 2%, AVN is strategically positioned in the early stages of a durable growth cycle in the world's 4th largest country by population with a GDP of over $1TR and average population age of 31 years old.Continued strong demand for local content amongst a rapidly urbanizing and fast-growing middle class has led Vision+ growth to far outpace international players such as Netflix and Disney+ in the Indonesian market.Vision+ has the strongest OTT content proposition in Indonesia, having access to exclusive rights of all MNC Group’s Free-To-Air channels and content library of more than 300,000 hours, of which more than 100,000 hours is VOD ready.AVN combines Indonesia's fastest growing OTT media business with the 3rd largest broadband and IPTV operator, and is part of MNC Group, Southeast Asia’s largest media company.The transaction is expected to close in late Q2 or early Q3 2021. AVN will continue after the business combination as a new Indonesian US-listed holding company and is expected to trade on NASDAQ. The transaction implies a pro-forma enterprise value of $573 million. NEW YORK, Ma(GLOBE NEWSWIRE) - Asia Vision Network (“ AVN” or the “ Company”), the holding company for Vision+, Indonesia’s fastest growing Over-The-Top media business and MNC Play, the 3 rd largest broadband and IPTV operator in Indonesia, and Malacca Straits Acquisition Company Limited (“ Malacca Straits” or “ MLAC”) ( NASDAQ: MLAC), a publicly traded special purpose acquisition company led by CEO Kenneth Ng, announced that they have entered into a definitive business combination agreement.
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