Arqiva wants SeeSaw backer
January 19, 2011
Arqiva wants an investment partner for its online TV aggregator SeeSaw. The service, built on the legacy Project Kangaroo platform bought from the BBC, provides content from BBC, C4, Five and independents. Arqiva wants a partner to accelerate development of the service that has made little impact in the face of BBC iPlayer and ITV and C4 catch-up services.
Nick Thompson, MD of Arqiva’s Broadcast & Media business, said the company has been looking at SeeSaw as part of a wider strategic review. He said that, following the launch of the “pioneering” service, it now needs further investment in order to “reach its full potential”.
Arqiva bought the technology behind the ill-fated Project Kangaroo for £8 million (€9.52m).
Thomson said, “SeeSaw is backed by unique technology and will be a major part of the connected TV revolution, but we need to enable a step-change in the development of the service in what is a very fast-moving environment.”
Earlier this month Arqiva appointed John Cresswell, former COO of ITV, as CEO.
Arqiva is also a partner in the VOD venture YouView, alongside the BBC, ITV, Channel 4, Five, BT Vision and TalkTalk.