Bebo owner gets the balance right with SeeSaw acquisition

Criterion Capital Partners (CCP), the owner of social media site Bebo, has stepped in and saved troubled online TV video-on-demand platform SeeSaw.
Round-up of today's M&A deals


Criterion Capital Partners (CCP), the owner of social media site Bebo, has stepped in and saved troubled online TV video-on-demand platform SeeSaw.
Round-up of today’s M&A deals

Criterion Capital Partners (CCP), the owner of social media site Bebo, has stepped in and saved troubled online TV video-on-demand platform SeeSaw.

The online TV venture was on the brink of extinction last month. Previous parent company Arqiva, announced it was planning to axe the service following an ‘ongoing strategic review of its business activities’.

SeeSaw was originally set to cease operation on June 20th 2011, but continued to broadcast amid reports that CCP was considering saving it from shutting down.

Michael Jackson, the former head of Channel 4, is one of the investors brought together by private equity firm CCP to secure the acquisition.

Under the terms of the agreement, Arqiva has retained 25 per cent of the ownership of SeeSaw and is guaranteed a seat on the organisation’s new executive board, with Jackson assuming the role of chairman.

Commenting on the deal, he said: ‘The technology behind SeeSaw is world class and the group behind the bid has a great mix of entrepreneurial and industry experience.’

All programmes on SeeSaw are currently free to watch, with the platform’s paid content due to return shortly once a number of technical updates have been made.

Round-up of today’s M&A deals

  •  Manchester marketing firm Hasgrove has sold its public affairs and strategic communications division Interel in a management buy out

Value: £8.45 million

Advisors: Peel Hunt, College Hill

Read more

  • Alfa has acquired 49 per cent stake in Mexican telecom company Alestra from AT&T and becomes the sole shareholder

Value: £161.34 million

Advisors: undisclosed

Read more

  • Engine has acquired digital agency Fantastic Thinking

Value: undisclosed

Advisors: undisclosed

Read more

Todd Cardy

Todd Cardy

Todd was Editor of GrowthBusiness.co.uk between 2010 and 2011 as well as being responsible for publishing our digital and printed magazines focusing on private equity and venture capital.

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