US investment firm Criterion Capital Partners is reportedly close to acquiring the VOD unit of UK communications infrastructure firm Arqiva.
Criterion plans to use SeeSaw to break the UK’s lucrative online TV market, where Arqiva has been unsuccessful,…
US investment firm Criterion Capital Partners is reportedly close to acquiring the VOD unit of UK communications infrastructure firm Arqiva.
Criterion plans to use SeeSaw to break the UK’s lucrative online TV market, where Arqiva has been unsuccessful, reports the Daily Telegraph citing sources.
Arqiva is seeking to finalise the deal by 30 June in time for the end of its financial year, adds the report.
Criterion was unable to comment before the press deadline.
A spokesman for Arqiva declined to discuss the speculation, but said the group “continues to talk to potential purchasers”, despite the service previously being set to close because of an apparent lack of interest.
Back in February, Ingenious Corporate Finance was mandated by Arqiva to help it find an investment partner for SeeSaw.
At the time, a source close to the process told TelecomFinance that there had been a number of approaches by UK and global companies, which were seeking to capitalise on TV services’ shift to the internet.
Potential investors reportedly included US OTT firm Hulu and French DTH group Canal Plus.
However, a few months later, the company revealed that it had been unable to find an investor, and was instead planning on either selling or closing the SeeSaw service entirely.
In an update of its strategic review on 27 May, an Arqiva spokesman said in an email: “We have tried to find an investment partner, however this has not proved possible. We have therefore put SeeSaw staff on a 30-day consultation as we need to reach a conclusion by the end of our financial year on 30 June.”
Previously, SeeSaw had also been widely expected to appear on the hybrid platform being planned by UK IPTV joint venture YouView, in which Arqiva is among the JV partners.
