Posts Tagged ‘Avail-TVN’

Avail-TVN Closes $100 Million Carlyle-Led Funding Round, Buys On Demand Group From SeaChange

Broadcast Vendor M&A | Posted by Joe Zaller
May 21 2012

Avail-TVN announced today that it has closed a $100m financing round, led by private equity firm The Carlyle Group.

Carlyle, which is now Avail-TVN’s largest investor, joins existing investors Columbia Capital, Valhalla Partners, Novak Biddle and Pioneer Ventures.

Avail-TVN said it will use the investment to fund international expansion, develop new products, and finance the purchase of UK-based On Demand Group from SeaChange for $27m. The On Demand Group is a provider of video on demand services to some of the biggest television brands outside of the United States.

For SeaChange, the deal to sell On Demand Group is the latest in a series of actions aimed at transforming it into a pure-play software vendor. Earlier this year SeaChange announced a $5m cost cutting program earlier this year, parted ways with its president, made acting CEO Raghu Rau’s position permanent, and spun off its broadcast hardware business to newly formed XOR Media.

“We see tremendous revenue value creation opportunities in the global digital media space as technology continues to revolutionize the way consumers access premium video entertainment,” said William Darman, principal, The Carlyle Group. “Avail-TVN is an innovator helping organizations across the value chain to continue to monetize video content in new ways and this joint investment by The Carlyle Group’s U.S. and European growth funds is testament to the growth prospects we see in this sector over the coming years.”

“With the addition of the On Demand Group, Avail-TVN becomes the largest provider of digital video in the world, reaching more households in more countries than any other company in the space,” said Will Smales, associate director, The Carlyle Group. “As the digital video market continues to evolve and mature, the company is poised to capitalize on opportunities around the globe.”

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Related Content:

Press Release:  Avail-TVN Raises $100 Million of Financing To Fund Global Expansion and Domestic Service Development; Acquires On Demand Group  http://dcft.co/KsP0zD

More Broadcast Vendor M&A: SeaChange Sells On Demand Group to Avail-TVN for $27 Million

Press Release: SeaChange Announces Sale of On Demand Group to Avail-TVN 

SeaChanges Completes Spin-Off of Broadcast Server and Storage Business to XOR Media

More Broadcast Vendor M&A: SeaChange Sells Broadcast and Storage Business to Financial Buyers

 

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© Devoncroft Partners.  All Rights Reserved.

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More Broadcast Vendor M&A: SeaChange Sells On Demand Group to Avail-TVN for $27 Million

Broadcast Vendor M&A | Posted by Joe Zaller
May 21 2012

SeaChange announced that it has sold its media services company, On Demand Group, to Avail-TVN for $27m on a cash-free, debt-free basis. U.K.-based On Demand Group, specializing in content aggregation and management of VOD services, becomes part of Avail-TVN effective immediately.

The deal is the culmination of a series of actions aimed at helping SeaChange transition its business to a software-centric business.  Earlier this year the company announced a $5m cost cutting program earlier this year, parted ways with its president, made acting CEO Raghu Rau’s position permanent, and spun off its broadcast hardware business to newly formed XOR Media.

“This sale is part of the ongoing execution of our strategy to transform SeaChange into a pure-play software company, while generating significant cash for our business and improving shareholder value,” said Rau.   “We can now focus our efforts on strengthening our competitive advantage in delivering next generation multi-screen video software solutions to cable, IPTV and mobile operators worldwide.”

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Related Content:

Press Release: SeaChange Announces Sale of On Demand Group to Avail-TVN 

SeaChanges Completes Spin-Off of Broadcast Server and Storage Business to XOR Media

More Broadcast Vendor M&A: SeaChange Sells Broadcast and Storage Business to Financial Buyers

SeaChange Executes Separation Agreement with Former President

SeaChange President Departs, Position Will Not be Replaced

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© Devoncroft Partners.  All Rights Reserved.

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