Avail-TVN nabs $100 Million for global expansion
Date: Friday , June 01, 2012
The global provider of advanced digital video service, Avail-TVN has raised $100 million of new investment from The Carlyle Group. The proceedings of the current round of investment will enable Avail-TVN to acquire UK-based On Demand Group; a provider of video on demand services to some of the biggest television brands outside of the U.S. Carlyle will join the existing Avail-TVN investors including Columbia Capital, Valhalla Partners, Novak Biddle and Pioneer Ventures. Stephens Inc. was an advisor to Avail-TVN on the transaction.
Avail-TVN will use the fund for 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. Merger of On Demand with Avail-TVN will bring together a diverse customer base, strong content relationships with leading entertainment and media companies around the globe, highly developed and proven workflow and delivery systems, the finance and scale to drive aggressive revenue growth. 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. 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 monetization opportunities for our customers in the rapidly-changing digital media space," says Ramu Potarazu, CEO, Avail-TVN.
The company is the largest global provider of digital video services. Working with both service providers and content owners, it is focused on providing its global customer base solutions that simplify content management and distribution, and enable the monetization of content.