Avail Acquires On Demand
Digital video service provider Avail-TVN has acquired UK-based company On Demand Group, which provides transactional video offerings to operators. On Demand will continue to service its customer base, with CEO Tony Kelly serving as a member of the Avail executive management team, reporting to Avail CEO Ramu Potarazu.
The acquisiton comes on the back of $100m investment funding, led by global alternative asset manager The Carlyle Group, now Avail's largest investor. The company says it will use this investment to fund international expansion and the development of new products and services.
“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,” says 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.”