Buni.tv will be closed down before November 2016 following an acquisition of the VoD platform by TRACE TV in preparation for the french music video television network's launch of a VoD platform called TRACE Play later this year.

Marie Lora-Mungai, Buni.tv's CEO and co founder says the the four year old business will be shut down within five months, and existing subscribers will be gain access to the full TRACE Play catalogue when that service is launched after the closure of Buni.tv.

"After a period of transition, Buni.tv will be shut down and its catalogue and assets incorporated into TRACE's upcoming VOD service TRACE Play. TRACE Play is scheduled to be launched and rolled out in 50 countries between September and November this year."

Lora-Mungai adds that the sale is aimed at increasing the number of consumers. "Critical mass is crucial for the success of any VoD service. As the African VoD market becomes increasingly competitive and sophisticated, we are thrilled to join forces with a solid and forward-thinking partner such as TRACE."

Lora-Mungai also confirms that she will be joining TRACE to consult on the company's content development strategy for Africa.

"As the African VoD space becomes increasingly sophisticated and competitive, it was the natural next step for Buni.tv to look for a strong partner that could benefit from the expertise accumulated and offer more resources to develop an exciting offer for consumers both inside and outside Africa. We are looking forward to share Buni.tv's expertise with TRACE and to contribute to making TRACE Play a winning VoD service targeting the urban youth audience in Europe, the US and Africa."

Launched in 2012, Buni tv was purchased from previous owners Restless Global. The VoD service was one of the first VoD platforms to focus on the African market.The new owners say Buni.tv's more than 2 million unique visitors and 20,000 registered users makes it one of the three largest VoD services on the continent, alongside Iroko TV and Naspers' Showmax.

TRACE CEO Olivier Laouchez says TRACE and Buni.tv share the same strategic vision. "We believe that VoD is the future of television. We also share the same analysis that the success of any VoD service in Africa will depend on whether it can source and offer high quality original African content."

TRACE also revealed that it has secured the Pay TV and VoD rights to comedy shows Ogas At The Top (Nigeria) and The XYZ Show (Kenya), produced by Buni.tv's sister company Buni Media as part of the deal.