Acquisition is part of $100m new investment funding, led by The Carlyle Group.
Avail-TVN, the largest global provider of advanced digital video services, has announced that global alternative asset manager The Carlyle Group will lead $100m of new investment funding, allowing Avail-TVN to acquire UK-based On Demand Group, a provider of video on demand services in Europe, the Middle East and Asia.
The acquisition of On Demand Group from SeaChange International expands Avail-TVN’s reach to more than 25 countries, serving more than 70 million households globally. Avail-TVN will also use the $100m investment to fund international expansion and the development of new products and services for the company’s global client base of content providers and multichannel video service providers.
On Demand Group will continue to serve its existing customer base in more than 20 countries. Tony Kelly, CEO at On Demand Group, will now report to Avail-TVN CEO, Ramu Potarazu, and serve as a member of the executive management team.
“Our strategy has been to invest in leading players across the digital media ecosystem and incorporate them into one company to build Avail-TVN into the largest provider of advanced digital video services worldwide,” commented Potarazu. “The Carlyle Group’s investment supports that vision, and provides the capital and global network to build upon this foundation both domestically and internationally.
“With the integration of On Demand Group, we broaden our capabilities, extend our distribution and are able to further develop monetisation opportunities for our customers in the rapidly-changing digital media space.”
Stephens Inc. was an advisor to Avail-TVN on the transaction.