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October 03, 2005
On Demand is In Demand
Last week SeaChange International purchased the remaining 72% of the outstanding capital stock of the On Demand Group Limited (ODG) that it did not previously own. ODG is London-based; aggregating movies and other television programming for on-demand and pay-per-view services throughout Europe.
SeaChange paid around $13.4 million. Taking into account around $6 million that On Demand Group has in the bank, the actual cost to SeaChange is nearer $7 million, with future earnout payments taking that up to $17 million at most.
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