Bebo buyers target SeeSaw

Criterion Capital Partners, the US investment company that owns Bebo, is set to buy Arqiva’s SeeSaw, according to the Guardian.

Arqiva had planned to close SeeSaw this week after failing to find a buyer, however, the broadcast transmission company is thought to be close to signing a deal with Criterion.

Criterion, which is run by Adam Levine, bought Bebo for $10 million (£6.17 million) last June as part of the company’s strategy to buy and turnaround companies with revenue between $3 million and $30 million. (AOL acquired Bebo two years previously for $850 million).

A spokesperson for Arqiva said: “Arqiva is still in discussion with various parties about a possible sale of SeeSaw.”

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