Orange is planning to sell 80 percent stake in Dailymotion, a video aggregation and distribution platform, to Vivendi for 217 million euros.
Orange will retain a 20 percent stake in the company. Dailymotion, which clocked sales of 64 million euros in 2014, is the second largest aggregation and distribution platform in the world, with over 2.5 billion videos seen per month.
The strategy of Orange is to utilize the expertise of Vivendi to accelerate the growth of Dailymotion to create the world’s largest content distribution platforms. Orange will also use the proceeds of this transaction to finance its efforts in the digital ecosystem.
Stephane Richard, chairman and CEO of Orange, said: “Orange has supported the development of Dailymotion since 2011 as the company has increased its audience by 2.5 and grown into one of Europe’s biggest success stories in the digital domain.”
Vivendi will aim to focus on musical and audiovisual content across the world.
