Vivendi snaps up Dailymotion for $241MN

DetailsMichelle Clancy | 02 July 2015

Online video site Dailymotion has a new owner: Vivendi has announced that it has acquired an 80% stake in the company from French carrier Orange for $241 million.

"The integration within Vivendi offers Dailymotion the means to strongly accelerate its growth and continue its international expansion," the company said. "It gives the company access to particularly attractive music and audiovisual content and allows for the joint development, together with the Universal Music Group and Canal+ Group teams, of original and distinctive content and formats meeting the expectations of a whole new generation of digital consumers."

This acquisition is at the core of Vivendi's digital strategy, it added.

"With Dailymotion, the group benefits from an over-the-top distribution platform of international stature and of a technological expertise which complements the group's existing one," it added.

Orange will retain the remaining 20% of the company.