UK communications infrastructure firm Arqiva’s short timeframe to find a buyer for its VOD venture SeeSaw has deterred potential suitors, TelecomFinance has learnt.
US investment firm Criterion Capital Partners was reported last week to be close to an…
UK communications infrastructure firm Arqiva’s short timeframe to find a buyer for its VOD venture SeeSaw has deterred potential suitors, TelecomFinance has learnt.
US investment firm Criterion Capital Partners was reported last week to be close to an acquisition of SeeSaw in time for Arqiva’s self-imposed 30 June deadline.
However, although Criterion was one of a number of interest parties that had declared initial interest, SeeSaw currently has no serious bidders, a source close to the process said.
It is understood that SeeSaw had been approached by a number of UK and global companies, all seeking to capitalise on TV services’ shift to the internet.
But none of them are willing to transform that interest into serious bids to suit the timeframe of Arqiva, which has declared plans to sell or close the business entirely by the end of June.
Despite this, there is still a possibility for interested parties to place late bids, the source added.
Potential investors reportedly included US OTT firm Hulu and French DTH group Canal Plus.
Arqiva mandated Ingenious Corporate Finance back in February to initially find an investment partner for SeeSaw. A few months later, the company revealed that this search had been unsuccessful, and Ingenious was tasked with finding a buyer for the whole division.
The UK firm, which does not have any other consumer facing businesses apart from SeeSaw, declined to comment.
