Carlyle bets on US’s Avail-TVN
AVAIL-TVN, a US-based media services provider, announced yesterday it has raised $100m (£63m) in a round led by private equity giant Carlyle Group, to help fund its acquisition of rival company On Demand Group in the UK.
Avail-TVN, which works with companies like NBC and Univision, said its $27m acquisition of On Demand Group – also announced yesterday – will make it the largest provider of digital video services in the world.
Carlyle is leading the round that also includes existing investors Columbia Capital, Valhalla Partners, Novak Biddle and Pioneer Ventures and will become Avail-TVN’s largest investor.
Avail TVN said the deal will expand its reach to more than 25 countries, serving more than 70m households across the world.