Orange jumps at Kangaroo price
By Julian Clover | May 20, 2009
Orange has walked away from talks to buy the technology developed to power the Kangaroo online TV portal.
Owners BBC Worldwide, ITV and Channel 4 were looking to recoup some of the estimated £20 million (€22.74m) investment in Project Kangaroo before the proposition was vetoed by the Competition Commission amid fears it would distort the developing on demand market.
“We can confirm that we are not pursuing our interest in the catch-up TV service Kangaroo. After in-depth due diligence, we concluded that it was unlikely that an outcome which benefited France Telecom’s Orange operations would be met,” said an Orange statement.
Orange would have used the technology to support its IPTV operations in territories including France, Poland and Spain, though plans to establish a UK platform have been put on the back burner.
One potential bidder is said to remain interested in the Kangaroo technology.