Posts Tagged ‘Carlyle Group’

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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More Broadcast Vendor M&A: The Carlyle Group Acquires The Foundry from Advent Venture Partners

Broadcast Vendor M&A | Posted by Joe Zaller
Mar 15 2011

The Carlyle Group announced that is has acquired a “significant majority stake” in The Foundry, a UK-based visual effects software specialist, from Advent Venture Partners. As part of the deal, The Foundry’s founders and management will retain a significant minority stake in the business.

Although terms of the transaction were not disclosed, an article in the Financial Times newspaper says that that The Foundry was estimated to be worth “more than £75m ($120m)”.  If this valuation is correct, Advent Venture Partners has made a tidy profit since backing a management buyout at The Foundry less than two years ago.  This is the third broadcast industry deal for Advent in the past couple of years.  The UK-based venture fund sold its majority in Snell & Wilcox to Lloyd’s Development Capital in 2009, and retained a minority interest in Snell.  In 2010 Advent invested in ingest and transcoding vendor AmberFin.

The Foundry has experienced strong growth since the Advent-funded management buyout in June 2009, driven by demand for its visual effects software.  Since that time, the company’s headcount has tripled to more than 100 staff, and its revenue has more than doubled to £14.9m ($23.8m).  Today, The Foundry has more than 4,000 customers including The Moving Picture Company (MPC), Prime Focus, Dreamworks, Industrial Light and Magic (ILM), Framestore, Cinesite, Double Negative and several other high-end facilities.

Carlyle, which funded the acquisition through its “Carlyle Europe Technology Partners (CETP) II” fund, has acquired and invested in 20 companies, supporting their growth, expansion and business transformation initiatives in the technology space.  Carlyle says it plans to will support The Foundry’s expansion and continue to invest in its specialized product offerings while diversifying into adjacent market areas.

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Related Content:

Press release: The Carlyle Group to Acquire Visual Effects Software Developer The Foundry from Advent Venture Partners

Advent Ventures exits Snell & Wilcox in a merger worth £72million and retains stake in newly-created global force in broadcasting technology

AmberFin Closes Funding Round — Fourth Transcoding-Related Transaction in Past Few Months

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