SeaChange International Inc. has divested another of its divisions, this time selling its media services company, On Demand Group (ODG), to Avail-TVN for $27 million on a cash-free, debt-free basis.?
U.K.-based On Demand Group, specializing in content aggregation and management of VOD services, becomes part of Avail-TVN, effective immediately.?
Earlier this month, SeaChange wrapped the sale of its broadcast server and storage business earlier today to the new independent company XOR Media (for more information, click here).
Notes SeaChange CEO Raghu Rau, “This sale is part of the ongoing execution of our strategy to transform SeaChange into a pure-play software company while generating significant cash for our business and improving shareholder value. As the sale is to a strategic buyer, the combination of Avail-TVN and On Demand Group creates a global?media services powerhouse, which also presents a significant customer opportunity for SeaChange.”?
On Demand Group CEO Tony Kelly adds, “ODG manages VOD content and services on 26 platforms in 20 countries, handling 1 billion VOD transactions each year in 14 different languages. We look forward to continued growth as we merge our wealth of talent, and proven workflow and delivery systems with Avail-TVN, to the benefit of our employees and our customers worldwide.”